China’s e-commerce marketing has grown against the trend under the epidemic

The global retail market is affected by the pandemic unprecedentedly. However, China's online economy has grown against the market. The online retail sales volume reached 11.76 trillion yuan in 2020, an increase of 10.9%. Many brands and companies would like to transform their business from offline to online. Setting up the online store in mainstream domestic e-commerce platforms would bring more profit to companies.

Source: National Bureau of Statistics of China

Social e-commerce platform-Pinduoduo becomes the second largest e-commerce platform in China.

The domestic e-commerce platform is helping to fight against the epidemic and driving the recovery of the retail and consumption market. The e-commerce sales volume increased by 13.3% in 2020, driven by different e-commerce promotion activities and booms such as “618” and “11.11” shopping festivals. Apart from traditional domestic e-commerce platforms such as Taobao and JD.com, social e-commerce platforms including Pinduoduo also achieved excellent sales performance.

Source: https://zhuanlan.zhihu.com/p/349418938

In 2020, the users of Pinduoduo had surpassed JD.com and become the second-largest e-commerce platform in China. Pinduoduo has an online collective buying discount business model in which users purchase the same product as a group to receive the greatest discount. Group buying is popular among Chinese online users.

Source: https://www.qianzhan.com/analyst/detail/220/200717-41783050.html

Approaching “618 Shopping Festival”, the next round of e-commerce sales and promotion booms is coming. As the epidemic continues, what is the best way for multinational retail corporations to grab the online traffic and trend effectively and efficiently? How to develop or expand the business in the China market under the pandemic?

Welcome to contact our marketing consultant to know more about the development and expansion of your retail business in China market.

Email: enquiry@so360.hk