14% of Chinese Shop Online Everyday
According to a report created by PricewaterhouseCoopers, 14% of Chinese respondents shop online daily. Over 60% claim to shop online at least once a week, which is much higher than the global average of just 5% who shop online everyday and 21% every week. When it comes to mobile shopping, Chinese consumers ranked first, with 4% of respondents shopping via mobile everyday, 20% using it once a week, and 27% once a month. The global percentages are 2%, 7%, and 12%, respectively.
Source: China Internet Watch
Chinese online market revenue and mobile users increase exponentially
The Ministry of culture today released a report stating that the popularity of mobile Internet and more specifically online music increased remarkably. Market revenue of China’s online music business reached 7.41 Billion Yuan, an increase of 63.2% since 2012, while the online music market increased 140% to 4.36 Billion Yuan.
Of particular interest were the online user figures. The number of online users only increased by 4.6% to 450 million people, however the number of mobile music users grew 203% from 96 million to 291 million, highlighting the huge move towards mobile Internet usage. Although the report sounds promising there were still problems regarding network efficiency, which plagued the development of the music industry, but the Ministry of Culture has said they will focus on improving policies and regulations to progress the integrity and effectiveness of the system in order to promote continued prosperity and healthy development.
China Overtakes the U.S. as the Biggest Online Spenders
The Chinese e-commerce industry is predicted to be worth $541 billion USD by the year 2015. In fact, 49% of the population made an online purchase last year, a figure that is meant to increase to 71% by 2017. The demographic of the Chinese online consumer is comprised primarily of younger people, with 60% of the consumers under the age of 30. They are also considered to be affluent – online spending is highest in China’s tier one cities, and those earning more than 5,000 RMB per month are likelier to make online purchases. The market is also dominated by mobile devices, with 464 million of its 591 million internet users opting to use their smartphones or mobile devices to surf the web.
Source: The Future of Commerce
LinkedIn attempts to enter Chinese Market
With LinkedIn making its entry into the Chinese market after many people were skeptical about the Western network getting over the countries great firewall, its greatest challenge lies in adapting to an entirely different culture. In comparison to the Western world, Chinese relationships are more private, and people keep their cards very close to their chest, which is the opposite of LinkedIn’s fundamental approach; publicly broadcasting one’s professional contacts.
Trying to change the mindset of an entire society will ultimately result in failure. LinkedIn is still in young in China, and is effectively seen as a startup but if it manages to adapt effectively and localize its use here, it may provide China’s young-up-and-comers with another professional social network in which to build relationships.
Source: Tech In Asia