More on this: Musk called Tencent-owned WeChat a “good model” for a super app, noting that nothing like it exists outside of China. He said it's important for content creators to have revenue streams and that integrating payments into such an app, whether they’re cryptocurrency or fiat, would be beneficial.

A number of direct-to-consumer brands, including Chinese condiment startup Fly By Jing and toothpaste brand Bite, have also begun selling on Amazon, per Modern Retail. The risk/benefit: While Amazon provides brands with access to a lucrative customer base, that access comes at a cost—in terms of fees, placement, and perhaps most importantly, customer data and loyalty.

I think we're all well aware of the fact that China is the leader in terms of retail e-commerce sales, both overall and as a proportion of total retail. Now, that proportion will stand at 46% this year in China. But what was that proportion 10 years ago in 2013? Was it 9%, 15% or 20%? Paul Briggs:. I'll give it a guess, it was 15%, Bill. Bill Fisher:. Okay. Carina Perkins:. I'm going to go 20.

Why it’s worth watching: WeChat and Alipay+ have a large presence in China and the rest of Asia: Both wallets are expected to claim more than 80% of mobile wallet users in China this year, according to Boku and Juniper Research.

TikTok’s penetration there is artificially low due to the inclusion of China and India in our figures for internet users. TikTok isn’t available in either country, but its sister app Douyin is a dominant presence in China and will be used by 69.0% of internet users this year. TikTok will pass Snapchat in every world region by the end of 2022.

I think it's the national gallery in China. Suzy Davidkhanian:. And the one in London. Carina Perkins:. The National History Museum. Marcus Johnson:. Wow. You guys nearly got all of them. So, number... I'll go in reverse order. Number five, the British Museum. Number four, the Met in New York. Number three, the Vatican Museums. Number two is the National Museum of China.

Within the entire Asia-Pacific region, only China has a higher mcommerce share. Overall, retail mcommerce sales in India will reach $68.09 billion this year, making it the fourth-largest market in Asia-Pacific behind China, Japan, and South Korea.

Changes in methodology prevent direct comparisons with earlier findings. 25 companies were selected based on their global reputation, size, and geographic presence in 25 countries, from Australia and China to the US and Vietnam. Cut to the chase: Companies were ranked across 11 digital channels, including apps, blogs, corporate and local company websites, and social media sites.

“I think there’s a big entertainment factor to livestreaming in China that the UK and the US haven’t quite got[ten] right yet,” said our analyst Carina Perkins. “Hosting livestream shopping is quite a different skill from the more sort of traditional influencer content that we’ve seen thus far.”. Some brands have figured out this entertainment factor.

By comparison, nearly 40% of internet users in China will have made a purchase via livestream this year, according to our forecast. But it seems retailers are living by the “if you build it, they will come” motto, hoping that by investing early in livestream shopping, they will corner the market when (if?) it does reach the mainstream US population. 4. ChatGPT could revolutionize voice commerce.

The app has been framed as a national security risk in the EU and US for its ties to the Chinese government and mishandling of personal data.

If Spotify wants to continue the rate of growth that’s sustained it in recent years, it will have to expand to markets like China and Argentina where listeners are still rising in the double-digits. The rate of new shows being produced is also falling dramatically.

The US and Europe make up most of the market, but sales accelerated in Asia-Pacific (especially China) as consumer adoption of luxury resale increased. Interest in secondhand watches, in particular, has driven international sales, as they account for 60% to 70% of the total market. Generational pull: The RealReal saw a 23% increase in shoppers buying resale in 2022.

The retailer has diversified supply chains away from China, partnered with UPS to speed up fulfillment and last-mile delivery, and turned about 1 million square feet of unusable store space into 35 regional warehouses.

In comparison in China, because of the government, life is much more censored and people turn to social media for very different reasons. Over social media then shopping becomes a peer-to-peer activity and it is about buying products from your friends. In the US, shopping is all about highly curated experiences and buying from lifestyle brands or fashion stylists or influencers.

In July, the ERP system went live in China and is scheduled for a 2024 rollout in North America. The bigger jobs picture: Despite tech sector layoffs, there’s still high demand for skilled tech workers. It’s being driven by an overall strong US job market, which has in turn staved off the downturn becoming an official recession.

Magna largely blames China for the weaker outlook due to its coronavirus policies (which, admittedly, appear to be lifting) and harsh digital restrictions hampered expansion there. Our own forecast for total media ad spending, last updated in October, calls for 6.9% growth in 2023 to $929.95 billion.

Mounting concerns around an Iran nuclear deal, increased missile tests in North Korea, and political tensions in China might result in the need for stronger sanctions compliance, and banks must be prepared to implement related changes quickly.

But it will still be dwarfed by the giants next door—India and China. The six countries in the Southeast Asia subregion will account for 14.4% of internet users in all of Asia-Pacific in 2022, compared with 39.9% in China and 25.4% in India. Smartphones Are Integral for Internet Access. The smartphone is critical to online activities in Southeast Asia.

China will be in second place, with 85.6 million listeners. This year, for the first time, more than half of all digital audio listeners in the US will also be podcast listeners. By the end of 2024, that figure will cross the 60% mark. Among digital consumers in the US, podcast listening has become mainstream in a surprisingly rapid fashion.

China joined 16 other countries with a strict privacy law when it passed its powerful new Personal Information Protection Law, which came into effect on November 1, 2021. Brazil’s Data Protection Law (LGPD) went into effect on August 1, 2021.

TikTok already has a road map in Douyin and more broadly in China, a far more developed social commerce market and home to TikTok's parent company ByteDance.

The company said RevPAR in every region except for China is “more than fully recovered” compared with prepandemic levels. Airbnb’s Q4 revenues rose 24% YoY to $1.9 billion, its biggest Q4 ever, driven by growth across all regions. The company says it continues to see strong demand in Q1 as travel enthusiasm remains high.

Listener growth will mainly come from France, Germany, and China, which have some of the largest growth rates in our forecast outside of the US. US spotlight: The number of US podcast listeners will grow 5.0% this year to reach 124.5 million. Time spent with podcasts is increasing as well, totaling 23 minutes a day this year and growing to 27 minutes by 2024.

MB: The initial idea was that it worked in the Chinese market, so the same version of it must work in the US market but brands in these platforms are learning that it's not an exact copy paste. We need to figure out how the US customer thinks about and uses these platforms.