And this sparked a viable craze among Chinese aspirational luxury shoppers because the travel book is expensive for a book, but it's nowhere near the price of a Louis Vuitton handbag. And some even went to all the shops that they could to buy different books so that they could collect all of the tote bags.
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| Oct 4, 2023
It’s been particularly slow in the UK, per Wunderman Thompson, despite efforts by TikTok to replicate the success of its sister app in China, Douyin—which began focusing on commerce in 2020 and now has a significant share of live shopping revenues in China. However, livestream shopping does appeal to younger shoppers.
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| Nov 3, 2022
Ralph Lauren’s growth plans are focused on expanding its women’s business, including apparel and handbags, as well as broadening its reach in China and India. The context: Personal luxury sales soared in 2021 and 2022 as younger and middle-income consumers splurged on high-end goods.
Article
| Aug 3, 2023
New markets: A considerable part of Spotify’s growth has come from markets outside the US, especially in Argentina and China. The share of users coming from the rest of the world has grown from 15% to over 30% in the last four years.
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| Aug 18, 2023
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| Nov 1, 2023
Source: Insider Intelligence | eMarketer
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| Nov 1, 2023
Source: Insider Intelligence | eMarketer
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| Nov 1, 2023
Source: Institute of Scientific and Technical Information of China (ISTIC)
China and the US have generated roughly half of that recent growth, but every country and region has played a role. Inflation—always a factor in this kind of data—is a huge part of the story, even in eras of more moderate pricing pressure. The revenge of brick-and-mortar was real, but it has receded.
Article
| Aug 17, 2023
China also leads in terms of social buyers, and the US is a distant second. There will be 467.3 million social buyers in China this year. That is roughly 156 million more than the combined sum of buyers in the 13 other countries we forecast.
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| Sep 12, 2022
It has no shortage of competition from Temu and other Chinese companies selling ultra low-cost goods, and it faces growing scrutiny over intellectual property infringements, its trade practices, the environmental impact of its business model, and its supply chain—including whether its cotton is sourced using forced labor.
Article
| Jul 27, 2023
Department stores Macy’s and Kohl’s and Chinese ecommerce giants Shein and Temu are among those to have launched third-party marketplaces in the US recently. Despite this competition, however, we predict Amazon’s share of US marketplace sales will keep growing, hitting 73.4% by 2024. Prime growth is slowing.
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| Aug 14, 2023
Is because it has a ton of resources, and money, and a roadmap in China that it can follow to make it work. Sara Lebow:. Do you think that China is setting the blueprint here? Should we be looking at what sister app Douyin has done and expecting TikTok to do that next? Or are the markets too different? Jasmine Enberg:.
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| Aug 2, 2023
Introduced in late 2022, the bill would shut down the platform over national security concerns, alleging that Chinese-owned TikTok is illegally collecting user data.
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| Jan 25, 2023
Go further: Read our Chinese Ecommerce in the US report.
Article
| Jun 28, 2023
Influencer-led livestreaming: TikTok initially focused on replicating the successful model from China, where influencers encourage viewers to make purchases in real time. However, this approach has faced challenges gaining traction outside of Southeast Asia. Private label brands: A “Trendy Beat” shopping section launched in the UK sold viral products under TikTok’s parent company, ByteDance.
Article
| Aug 4, 2023
Western Union partnered with Weixin to let the Chinese chat app’s 1 billion users receive money transfers in yuan. And Remitly bought Israel-based Rewire for $80 million to improve its network. Cash-only markets and underserved regions with ample room for digitization, like Venezuela and sub-Saharan Africa, could be key targets. New integrations can make sending and accessing funds more convenient.
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| Feb 28, 2023
It's not far off China. China's around 40% somewhere. Marcus Johnson:. Wow. Really? A lot more [inaudible 00:31:25] really. Evelyn Mitchell-Wolf:. Have y'all bought anything off of social media? Marcus Johnson:. Never. Stephanie Taglianetti:. Yeah. TikTok. A lot of TikTok, guys. A lot. Carina Perkins:. I'm one of only a quarter of the UK population that has bought something over social commerce.
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| Nov 30, 2023
TikTok, she notes is focusing on livestream commerce and end-to-end shopping experience after its sister app hand success with this strategy in China. And Pinterest meanwhile is heading down the same path as Meta with shoppable advertising. Jasmine, your take on this piece. Jasmine Enberg:. TikTok is kind of going where no social app has gone before with TikTokShop.
Audio
| Oct 13, 2023
Notably, just under half of all retail sales in the world take place in the US or China; for ecommerce, the two giants will account for a whopping 68.8% of the global total this year. Given this weighting, the health of the US and China goes a long way toward determining worldwide outcomes.
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| Jul 29, 2022
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| Jun 2, 2023
Source: Frost & Sullivan
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| Jun 2, 2023
Source: Frost & Sullivan
China is expected to make an early 2022 launch of its digital yuan. That beats the other 81 countries representing more than 90% of global GDP that were exploring CBDCs as of July 2021, according to Atlantic Council data cited by Axios. Being a pioneer will allow China to resolve development hurdles and smooth out regulatory issues—barriers that could keep other countries sidelined for years.
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| Dec 8, 2021
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| Oct 18, 2023
Source: Cisco Systems
Kearney’s China Diversification Index, which analyzes the shift of US manufacturing away from China to other low-cost countries in Asia, saw the US import value from China decrease from 66% of the total in 2018 to 55% at the end of 2021. “Made in America” will shift from a consumer preference to a business imperative.
Report
| May 17, 2022
The super app phenomenon that started in China has spread across Asia-Pacific. Regional super apps—including Alipay, Grab, Gojek, and LINE Pay—have seamlessly woven QR code payment capabilities into their powerful ecosystems. This has put proximity mobile payment at consumers’ fingertips.
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| Oct 26, 2022