Tencent’s Video App Reach 160 million Views on Valentine’s Day
Tencent’s vine-like video sharing app, Weishi, had over 160 million views on Valentine’s Day. The app allows users to make 8-second video snippets with options to add tunes and themes to the recorded content. On Valentine it had been prepped with romantical themes, such as writing “kiss” or “love” in the corner of the screen. Weishi can be shared on any Chinese SNS, but work best as embedded media in WeChat, QQ and Tencent Weibo.
Source: Tech In Asia
Cheap phones Drive E-commerce Growth In Smaller Cities
The low priced, high-speed smartphones are causing international brands to reconsider their market strategies in China. Cheap mobile devices have allowed new customers in lower-tier cities to enter the E-commerce arena, and they are pushing an explosive growth. Instead of investing in real estate in order to set up retail storefronts, international brands are able to connect and develop an entire new customer base online. If the current inflow continues McKinsey Global Institute predicts that Chinese online revenue could generate $650 billion in by 2020 since there are still a lot of foreign retailers not yet present in China.
Source: Red Luxury
Chinese Luxury Shoppers Increase Abroad
More Chinese than ever went abroad in 2013, many of them with crave for luxury products. Last year, shoppers from China accounted for over one-third of the luxury purchases in Western Europe. Chinese tourist dedicated 33% of their travel budget to shopping alone. No wonder they are the world’s top spenders. According to report “Serving the Global Chinese Customer”, Chinese consumers currently make more than 60% of their luxury transactions outside China. Brands that want to get a piece of the action therefore needs to do their best to keep the luxury shoppers on mainland. Especially since this number will increase rapidly in the future, currently only 5% of all Chinese nationals owns a passport.
Source: Jing Daily
Mobile Devices Pushing Online Luxury Shopping
Driven by consumers desire for convenience, mobile devices are driving China’s online luxury shopping, according to the new survey “Chinas Connected Consumers”. The study covered more than 10 000 customers that had bought premium or luxury products in the past 12 months. Around 60% of the applicants said they use smartphones everyday to buy or search for information on luxury goods. About 30% used tablets. Female consumers were bigger fans of mobile shopping than males, which mostly base their reliance on user reviews and social media, the study concluded.
Source: Shanghai Daily
Tencent Enter Co-op Agreement With Coca-Cola
Coca-Cola and Tencent have decided to work together on a strategic partnership agreement. Coca-Cola plan to invest hundred million dollars worth of resources in Tencents online shopping services, including 990 million coke bottles and 27 000 units of the limited and customized Coca-Cola Samsung. Tencent’s online shopping services will also offer a 75% sale on about 50 000 products. The campaign is scheduled to start March 3rd.