China is leading the globe’s cashless trend with its ubiquitous mobile payments. According to Xinhua, the mobile payment market reached RMB 81 trillion (US$12.77 trillion) as of October 2017. Tencent’s WeChat Pay and Alibaba affiliate Ant Financial’s Alipay account for 90% of the industry. The...
There is no denying that social media is the best way to approach target customers and raise brand awareness in China, as the country has an extraordinarily high mobile device penetration rate. With new social media products and programmes constantly appearing, 2017 witnessed countless innova...
At Alibaba’s 2016 Computing Conference, Jack Ma focused his speech on five areas that are being transformed by technology. The list included new finance, new manufacturing, new technology and new energy with new retail at the center. Alibaba wants to use data and technology to transform retail, i...
ALIBABA founder Jack Ma brought up the concept of New Retail at the 7th Alibaba Computing Conference 2016. New Retail aims to merge online and offline retail, and use adequate information and Big Data technology to enhance customers’ shopping experience. New Retail – backed by technology and Big...
China has long been perceived as a “nation of copycats,” where the shanzhaimentality reigned supreme, but, while pirating still goes on there, China has already moved on to the next phase of its development. The same has happened with WeChat. What started out as a Chinese copy of Whats...