Archive for the ‘Ecommerce Agency’ Category

postheadericon The Model Of E-Commerce Industry In China

Today, China is the most populous country on the face of the earth. With about one in every six person living China, it has a huge potential in terms of business and market. Although the per capita Gross Domestic Product of China is only around $6000, that is one eighth of the United States of America which is pegged at $48,000, the sheer size of Chinese population makes it the second largest GDP overtaking Japan. Even though the Chinese economy is only a little more than the half size of U.S.A at 7.8 trillion USD, the relative growth rate of China is more than thrice that of the latter. This will make it possible for the eastern giant to overtake the western hegemony within the next thirty to fifty years.

A comparative look at the levels of e-commerce in China and other country shows the magnitude of the market. In 2015, the e-commerce market of China has surpassed the American market size and is still growing at a healthy double digit growth of more than 20%. This not only opens the flood gates wide for digital technological companies, it also widens the horizons for digital marketing companies, as much as it opens new avenues for e-commerce companies and e-tails. Unlike the west, e-commerce industry in China is fueled by local social media like WeChat, Weibo, Baidu etc. Hence, for any company that wants to progress into a truly global multinational with a huge customer base, it is important for them to penetrate into the huge Chinese e-commerce industry.

Moreover corporate should be ready to invest heavily in this nascent and future market and optimize the products and marketing as per the local needs and expectations. Today, Tmall holds more than 50% of market share and is still flourishing. Chinese tend to buy high quality western products that are available through online. So, for any company looking forward to make inroads should concentrate on their quality of product and service. Most of the customer service in China is done through WeChat rather than the conventional mailing system and one must make the necessary changes in their business model.
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