Alibaba will provide $144 million in subsidies for a March shopping festival to offset COVID-19’s devastating impact on China’s retail industry.
TikTok (The Western counterpart of Bytedance’s Douyin app) is testing a new eCommerce feature enabling users to share eCommerce links within their posts/bios.
Shanghai-based research company The Silk Initiative have identified KFC, Nongfu, White Rabbit, Lays and Wei Long as the top five most innovative/creative food and beverage companies in China.
Coresight Research analyse how retailers can futureproof their China businesses using data: from walletless payments, to social commerce, to shopping festivals and collaborating with other brands.
Fung Business intelligence have released an overview report of China’s most popular B2C business models, including: O2O, Traditional Offline, Traditional Online and Group Buying/Social Commerce.
Vogue Business have discussed COVID-19’s dramatic impact on consumer psychology: such as the undermining of consumer confidence, and the higher prioritisation of health and immunity. As many businesses are already adapting to these changes, retail is forecast to recover around May or June.
In their efforts to adapt to the COVID-19 landscape, smart supermarkets (i.e. Alibaba’s Freshippo, JD.com’s 7Fresh and Tencent’s Super Series) are increasingly using WeChat Mini Programs to support Meanwhile, we’re encountering a boom in livestreaming on eCommerce platforms as well as social selling in private WeChat groups.
Cross-Border Trade and Global Supply Chains
As COVID-19 turmoil rises overseas (notably in Iran, Italy and Japan), China is showing signs that it is returning to business-as-usual [Read more @ Business Insider].
China Law Blog shed some light into the new trends businesses need to be aware of when operating in a post COVID-19 China. These including new tariffs, the opening to WFOE’s, to greater foreign and domestic competition, as well as a rising risk of counterfeiting activities and trademark theft.
Douyin (as well as it’s Western counterpart TikTok) was the world’s most downloaded app in January, with 104.7 million installs. This has been a major driver behind parent company Bytedance claiming the title as the second largest destination for attention/screen time of Chinese netizens (behind Tencent). Bytedance is also on the verge of overtaking Baidu in terms of ad-revenue. Last week, the company appointed former US Defence staff Roland Cloutier as the Chief Information Security Officer.
China’s scheduled airline capacity has grown over 25% week-on-week, an indication that China’s travel industry is recovering. However, this may reflect the extreme measures being taken by airlines to raise demand, with some airlines dropping domestic flights prices down to as little as US$4.
The Chinese government will subsidize international flights (both inbound and outbound) until June 30th. The move not only supports various travel and tourism sectors, but also suggests that the Chinese government is serious about maintaining connections with the outside world [Read more – CN].
The current COVID-19 tally sits at 108K cases, 3,800 deaths and 59K recoveries.
Alibaba founder Jack Ma has donated AUD$3.2 million to the Peter Doherty Institute for Infection and Immunity to accelerate the development of a COVID-19 vaccine [Read More @ The Australian]. Meanwhile Tencent has invested ¥88 million (AUD$19.2 million) to aid COVID-19 research and medical care.
Paul O’Brien discusses the ten key interventions China used to dominate COVID-19, from lockdowns, quarantine and holiday extensions to leveraging technology.