The Latest ECommerce News Is Coming from China
The world of eCommerce is constantly shifting and growing, as seen by the latest eCommerce news. Every day there are changes to platforms, plugins, and addons that make it easier for online businesses to supply to their customers or reach a larger customer base. While many eCommerce businesses are focused on the domestic market and their own business capabilities, a lot is changing outside platforms and plugins.
Changes in China?
Right now, updates from international markets are causing a stir. In particular, there is commotion among online businesses that sell in China because the latest eCommerce news from the country is favorable to online merchants of all sizes and industries.
China has seen a huge increase in eCommerce capability in recent weeks. Whether it is the movement of luxury brands into the Chinese market or moves by China’s giant of eCommerce, Alibaba, things are shifting in the world’ most populous country. Selling in China is notoriously difficult. The government allows products and services in the Chinese market on a stringent and closely watched basis. Ecommerce news indicates that cracking into the massive Chinese market could be getting better.
Luxury Goods in the Chinese Market
There are several platforms that cater to luxury brands who want to sell in China. However, for a long time there have been two primary players. One is run by China’s biggest eCommerce company, Alibaba called Tmall. The other is a large eCommerce platform called JD.com. For many e-luxury brands, these were the go-to sellers in China. However, in early 2017 the luxury company LVMH, maker of Hennessy, Louis Vuitton, and Marc Jacobs, announced it was creating its own platform for the Chinese market.
Since this announcement, other luxury companies have wondered what options were available for reaching China’s growing upper-middle class. As it turns out, there are several Chinese platforms that work for luxury brands hawking all types of products. The latest news is that nearly 30% of luxury purchases made from mainland China were purchased online. A number that will surely grow as the capabilities and diversity of Chinese platforms continues to expand.
Utilizing WeChat for Sales
For those unfamiliar with the Chinese market, WeChat is the most important online tool in the country. While it was designed to be the national online messaging system, over time WeChat has become much more. Through WeChat, Chinese citizens can access their own version of FaceBook, Instagram, and Google. It is not only how the Chinese communicate, but dictates most online activity.
Some of the latest eCommerce news revolves around the sales capability in WeChat. More companies are turning to WeChat for testing the potential of a product and for making direct sales within China. Even large, luxury brand such as Burberry are not utilizing WeChat to gain traction in the Chinese market. This has led to integration platforms, such as those that connect Salesforce to WeChat.
As WeChat currently has over one billion users, any news regarding easier use and functionality for international eCommerce companies, meaning those outside China, is very welcome.
What About Alibaba?
Yahoo took Alibaba out of China and across the globe with its acquisition of the company back in 2012. Today, Alibaba, continues to increase its presence in the United States and emerging markets in Southeast Asia. As evidence of this, the founder of Alibaba was recently in Detroit to discuss how and why U.S. sellers should be on the platform.
However, the real news from Alibaba is that the eCommerce platform is placing another huge investment into the Southeast Asian seller Lazada. Lazada currently has just over 600 million users throughout Singapore, Thailand, Malaysia, and surrounding countries. If one of China’s most influential eCommerce companies is looking to Southeast Asia for more business and expansion, maybe other businesses around the world should take notice.
If you are looking to keep up on the latest eCommerce news from the United States or abroad, check www.geniuseCommerce.com for news and updates on a regular basis.