Tencent has used WeChat to create a mobile ecosystem for China, which has more smartphone than PC users. By steadily integrating value-added services into a social media app, Tencent has made it increasingly useful to both consumers and businesses. That means WeChat has more opportunities than other messaging apps to make money. In contrast to Facebook, which earns most of its revenue from advertising, WeChat monetizes by integrating online payment functions that encourage shopping through the app and selling games. In the second quarter, Tencent recorded RMB 4.5 billion in revenue from games purchased through WeChat and its older instant messaging app QQ, up 11% year-on-year.
This year Alibaba broke all records on Singles Day with sales of $14.3 billion. Singles Day, or China’s Black Friday, was first invented by Alibaba in 2009. The idea was to create an annual sales event with crazy discounts supposedly for those who are single. (The fact that everyone, irrespective of their romantic status, jumped in and shopped is a different matter altogether.) This year a whopping 95 million users joined the cyber shopping fest. In other words, approximately almost one out of eight people in the world clicked the “buy” button on Alibaba’s marketplaces. What did it take to pull this off?
With companies like Baidu, Alibaba and Tencent branching out into new areas, China is witnessing the rise of a new breed of digital conglomerates.
From stats on online gaming revenues to tier-one home sales, the China data you need to know. Anyone travelling by subway in China will notice one thing: nearly everyone is busy with their smartphone. For some it is social media and for others it is games. It’s no wonder then that online gaming is soaring in popularity. […]
Alibaba’s investment in Suning is a signal that companies in retail in China need a multichannel strategy: embracing both the online as well as offline worlds.
Mobile wallets are taking off in China but it is too early to say what they mean for the use of cash and bank cards.
During his whistle-stop trip to the US, Alibaba founder and Executive Chairman Jack Ma is busy courting small businesses
With the rise of e-commerce and more discerning consumers, the recent growth of malls in China risks becoming redundant.
By posting a 45% jump in revenues, the Alibaba results have defied expectations. A quick look at the big numbers.
Chinese fast fashion brand Handuyishe is beating well-established rivals by focusing exclusively on e-commerce. Why is that a good strategy?