Suning Egou Acquires Redbaby
E-commerce platform Suning Egou has just officially announced the acquisition of maternal and child products e-commerce supplier Redbaby this afternoon. The purchase price was $66 million. This year Red Baby had a performance decline of over 70%, so the acquisition may be the best way for them.
Source: Sina Tech
360Buy About To Set Up Advertisement Platform
Representatives from 360Buy spoke about releasing their own advertisment platform. The concept has already worked well for Alibaba with their Taobao and Tmall Express and so chances are, that sellers might also be interested in 360Buy's service.
Source: Sina Tech
China has over a billion mobile phone users and 192 million 3G users
MIIT (Ministry of Industry and Information Technology) reports that China has 1.07 billion mobile phone users. 192 million (about 18%) of them use 3G and this numbers are growing fast. The total revenue of the first 8 months of this year is more than $112 billion, an increase of 9% compared to the same periond last year. Mobile phones represent more than 70% of the telecom revenue.
Source: Tech in Asia
Social Sharing Growing Strongly
The latest research from CNNIC (China Internet Network Information Center) has shown, that media sharing is growing rapidly. Of course this is also happening, because the user base is generally growing on social networking sites. According to CNNIC, sharing activities have increased by 60%, compared to January 2012.
Source: China Internet Watch
The Chinese consumer behavior ist getting closer to the rich countries
Today the global management consulting firm McKinsey realeased the consumer research report based on the year 2012. Despite the economic slowdown in China, the spending power significantly enhanced. Therefore the living standards and the people's consumption behavior is getting closer to the rich countries. The report also shows that China's consumer market is rapidly differentiate into two consumer groups: A new mainstream consumer group with an annual income of over 106.000 yuan and a group who is just entering the primary consumption stage with an income between 37.000 and 106.000 yuan. For that reason the number of consumers willing to buy products for self-enjoyment is increasing and consumers are more loyal to their favorite brands.