Daily Digital Pulse Of China: Luxury, Baidu, Taobao, Yihaodian
China is becoming the world's largest luxury goods consumer market.
According to the report of the China E-commerce Research Center the market scale of the first half of 2012 reached 13.5 billion yuan. That is 5 times bigger compared to 2009 and looking to the future 23.76 billion yuan are expected for 2013. With the increase of China's affluent population China is becoming the world's largest luxury goods consumer market.
Chinese B2C e-commerce has claimed another victim
On August 17 the online shop VCotton alerts users to the suspension of sales due to a technical error but now the warehouse and all its stocks has been seized by government authorities because of outstanding debts. It seems unlikely for the company to revocer from that. Maybe it was not a good decision to specialize in socks and underwear.
Source: Tech in Asia
Baidu's algorithm update
Since the end of June Baidu has achieved good results with the updated anti-cheating algorithms. The main goal is to reduce low-quality results and bring more traffic to the quality sites. Website hyperlink cheating affects the user experience in various ways like not getting the needed information, get copied content or being tricked with untrue statements or fraudulent content.
Yihaodian launched the first search engine function "shopping list"
This feature should help consumers to browse the shop faster and to make online shopping more efficient. The average consumer could save about one-third of the time to complete an order. When consumers opens the shopping list they can input multiple products or keywords and view all search results on the same page. The shopping list is one big step towards customer experience.
Taobao wireless Q2 electrical data report
Taobao's e-commerce data report of Q2 shows an average year-on-year growth of 683% referred to the mobilephone turnover. They have hourly sales of 155.000 products. This market is definitely dominated by female users. The categories women's shoes, beauty & makeup and maternal & child account for more than 40%. In terms of the turnover of cities Shanghai (16%), Beijing (13%) and Hangzhou (7%) are the top 3.
Source: IT Feed