[May 31th – June 6th] Panda Review #6 China digital news of the week
🛍️ E-commerce & Co.
KRASIA – June 5, 2021
Chinese secondhand marketplace nets USD 45 million for enterprise business
Zhuanzhuan Group, a secondhand product marketplace operator in China, raised USD 45 million in its Series A financing round for its B2B platform Caihuoxia, led by Zhongding Capital. The company’s most popular product categories include consumer electronics and household appliances.
YAHOO FRANCE – June 5, 2021
15 Biggest E-Commerce Companies in China
China’s most recent e-commerce boom did not decelerate even after the country got a handle on the virus and the economy fully reopened. Last year, in-store sales declined by 18.6% and were projected to decline by a further 9.8% in 2021. By comparison, e-commerce grew by 27.5% in 2020 and will grow by another 21.0% in 2021.
ALIZILA – June 7, 2021
Tmall Helps Merchants Big and Small Embrace China’s 6.18 Mid-Year Sales
Alibaba Group officially kicked off its 2021 6.18 Mid-Year Shopping Festival last week with 250,000 brands participating, more than double the number compared to last year. Alibaba’s leading B2C online marketplace, Tmall, has served up RMB10 billion (US$1.57 billion) in consumer coupons and subsidies to help further stimulate post-Covid consumption.
RTIH – June 8, 2021
Tmall Global launches UK & Ireland Go Global 11.11 Pitch Fest
The initiative will provide an opportunity for small and medium-sized businesses to be fast tracked into Alibaba’s 11.11 Global Shopping Festival, which last year generated $74.1 billion in GMV. All brands that apply will receive a one to one consultation with a Tmall Global expert and a bespoke report with market data and consumer insights.
JING DAILY – June 4, 2021
Why Shenzhen – Not Hong Kong – Is Luxury’s New Golden Ticket
In the 1980s, Shenzhen was a forgotten fishing village. But today, it is China’s “Silicon Valley,” a reputable, futuristic metropolis, and a marvel of modern design. In past decades, Shenzhen has attracted young, brilliant minds and top earners to its shores, transforming the city into a cosmopolite business and luxury hub, which is challenging Hong Kong as China’s top luxury hotspot.
🤳 Digital Marketing, KOL
MONEY CONTROL – June 6, 2021
Social media account of China’s Xiaohongshu goes dark after Tiananmen anniversary post
A social media account for popular Chinese e-commerce site Xiaohongshu, or “Little Red Book,” was unavailable on Sunday, after it issued a post on Friday, the anniversary of the 1989 crackdown on pro-democracy activists in Tiananmen Square, a highly sensitive date in China.
JING DAILY – June 7, 2021
Why Vacationwear – Yes, Vacationwear – Is The Hot New Trend In China
Focusing on new categories is an innovative way to boost revenue and market awareness. Combine the travel bug with FOMO (“fear of missing out”) and the desire to return to a kind of pre-pandemic normalcy, and you can see why vacationwear is a product category that should bring greater returns in 2021 despite limited international travel options.
DAO INSIGHTS – June 7, 2021
Video platform Bilibili testing lucky packet function
Sending red envelopes online has become part of social life and business activities in China. According to Tech Planet, China’s video platform Bilibili is testing a chat function that allows users to send lucky packets, filled with digital coins. After the red envelope is sent, all users in the screening room can have a chance to ‘snatch’ it.
🏮 A little bit of Culture
RADII – MAY 31, 2021
Chinese Social Media Reacts to New “Three-Child Policy”
Just a few hours after announcement, the hashtag #three-child policy is here# had attracted over 1.76 billion views on Weibo, climbing to become the top trending topic on the site. Frustrated netizens have flooded the site, posting sarcastic comments to express their negative sentiment towards this new change in the family-planning policy.
JING CULTURE & COMMERCE – JUNE 7, 2021
With A Tencent Partnership, Sanxingdui Museum Goes All In On Its Cultural IP
Sanxingdui Museum signed a cooperation agreement with Tencent to integrate its IP with the tech company’s music and video game departments. Key to this push is connecting with China’s post-’80s, -’90s generations. In the early days of the pandemic, it enthusiastically embraced livestreaming, a tool it used to show millions of viewers how archaeologists were unearthing more than 500 artifacts in Spring 2021.