[June 7-13th] Panda Review #7 China digital news of the week
🛍️ E-commerce & Co.
DAO INSIGHTS – June 10, 2021
China’s cross-border e-commerce market reaches $66 billion in Q1
According to The Paper, on 10 June, Ministry of Commerce spokesperson Gao Feng announced that China’s cross-border e-commerce imports and exports reached 419.5 billion RMB ($65.6 billion) in Q1 this year, a year-on-year increase of 46.5%.
NASDAQ – June 13, 2021
JD.com vs. Alibaba: Who will be King?
Revenue growth of the two companies is close, but Alibaba is still ahead. JD.com’s revenue growth is 33.4%, while Alibaba’s is 40.7%. Indeed, a 33.4% growth rate shouldn’t be dismissed by any investor. While Alibaba does hold the upper hand in terms of top-line growth as well as margins, it’s important to note that JD is in catch-up mode.
🤳 Digital Marketing, KOL
DAO INSIGHTS – June 11, 2021
Coca-Cola and Bolon’s rainbow glasses inspire LGBTQ+ conversation in China
China’s young generation is more open and supportive of sexual orientation and gender identity rights. Coca-Cola and Bolon gave out 517 rainbow sunglasses to users. Available in six of the rainbow’s colours, the glasses were not for sale and could only be won through an exclusive lucky draw. To be in with a chance of winning, Weibo users needed to share their ‘rainbow stories’.
JING DAILY – June 9, 2021
Why Luxury Brands Must Get Personal
Omnichannel personalization can reduce acquisition costs by as much as 50 percent and increase revenues by 5 to 15 percent. Yet this figure is likely to be higher for luxury brands. The accelerating digital transformation of the luxury ecosystem, combined with a new desire for individual brand experiences, means that luxury consumers now expect personalization as a standard of service.
✈ Travel Retail, tourism
JING DAILY – June 12, 2021
Will Chinese Tourists Visit A Re-Opened Europe?
France released a color-coded map laying out eased entry protocols for the summer travel season, featuring eased restrictions that apply to seven countries deemed “green.” Chinese netizens had negative reactions toward the new policy, and many commented that they would not visit France at the current stage except for necessary business travel.
👀 New Technologies
KRASIA – June 14, 2021
4 things you should know about China’s new data security law
China’s National People’s Congress approved a new data security law on Thursday, for the first time mapping out the country’s legislation for the handling of user data. The law will come into effect on September 1, and it has been described by overseas media as a “new power play” to rein in tech companies as well as a “necessity” by state media.
ALIZILA – June 11, 2021
Alibaba Deploys 1,000 Delivery Robots As E-Commerce Booms in China; Accelerates Digitization of Hainan
The e-commerce giant’s research arm, Hangzhou-headquartered DAMO Academy, together with the group’s logistics arm Cainiao, have started mass-producing the small robots, known as ‘Xiaomanlv’. The Xiaomanlv robots are designed to fulfil last-mile delivery requests for communities and campuses – students are prolific buyers from China’s digital e-commerce sites such as Taobao and Tmall.
🏮 A little bit of Culture
JING CULTURE & Commerce – June 11, 2021
Now Up For Auction At JD.com: China’s Intangible Cultural Heritage
JD.com, the organizer of major Chinese shopping holiday 618, is using the occasion to promote products tied to the country’s intangible cultural heritage products ahead of Cultural and Natural Heritage Day on June 12.
JING CULTURE & COMMERCE – June 10, 2021
Why China’s Hanfu Trend Won’t Cool Down
Since gaining popularity in 2018, Hanfu — a blanket term for traditional or tradition-inspired clothing — has become a major market trend of 400 million, predominantly young consumers. The rise of Hanfu is part of a broader phenomenon in which young Chinese are increasingly engaged with China’s history and traditions.