Baidu buys out e-commerce site Nuomi
Chinese search giant Baidu has announced plans to acquire the remaining shares in group-buying website, Nuomi, further expanding its business portfolio beyond search. The search engine operator said it was buying out the remaining shares of Nuomi, from social media company RenRen, and will be the site's only shareholder and investor following the deal.Nuomi is a group-buying site, which launched in June 2010 and had since diversified its business to include lifestyle content. Nuomi handled $120 million worth of transactions in second-quarter 2013, and had a base of 3.8 million active users. A Baidu spokesperson told news site Tech In Asia the move demonstrated the importance of the group-buying business to the company's location-based services strategy. The site noted that the company had integrated group-buying deals into its Baidu Maps mobile apps, which has more than 80 million users in China.
Impact of Mobile Content on Consumer Spending in China
Across the Asia region, mobile device brands have the most digital fans and followers, with 72% of Asian consumers saying that they follow a mobile device brand in the digital space, according to Content Matters: The Impact of Brand Storytelling Online in 2014, a new study from Waggener Edstrom Communications.78% of Asian digital consumers say they obtain information about product and services using social media, the survey also found that greater online engagement with brand content led to increased spending levels.The healthcare and food and beverage sectors have seen the greatest impact of digital followers on consumer spending, with an average increased spend of 129% for healthcare and 90% for food and beverage.The study reveals the relationship between brand storytelling online and key consumer behaviors such as brand advocacy, spending, and engagement.In China, 86% of digital consumers actively consume online advertorial content or click on digital ads. Chinese consumers who follow food and beverage brands online spend up to 160% more on food and beverage products every week. Consumers in China who follow personal care brands online are 14% more likely to recommend a personal care brand, product, or service to a friend, family member, or colleague.
Source: Holmes Report