This year will be remembered as the one that Covid-19 changed so many aspects of daily life we took for granted.
China, as one of the first countries to face the outbreak and progress to the recovery stage, is an example of how people have adjusted to the new normal. Chinese consumers are already back shopping and the most popular non-food items, like electronics, apparel, cosmetics, skincare products, sports equipment and health-related goods, are already seeing a comeback.
Emerging post Covid-19 trends
Among the emerging post Covid-19 trends, the digitising of communication and sales channels is the one that companies wanting to succeed in China cannot ignore. Data from China’s Ministry of Commerce indicates that during the epidemic, sales of goods on some e-commerce platforms rose by more than 30 per cent. China’s second largest shopping festival, June’s 618 Festival, also showed strong demand from consumers. Tmall and JD reported about 698.2 billion RMB and 269.2 billion RMB in sales respectively with 100 brands reaching sales of over 10 billion RMB. A strong e-commerce presence is a necessity for brands that want to succeed in China.
Another big trend which has fuelled consumption during the pandemic is live streaming. By 2023, China’s live-streaming market is expected to reach 100 billion RMB. It’s also estimated that in the first quarter of this year, Taobao’s live-streaming e-commerce market grew by 250 per cent year on year. And it’s not only about shopping. In order to win traffic, Taobao and other platforms are organizing concerts, fashion shows, influencer Q&A sessions and virtual shopping tours. In March, KOL Viya did a livestream that sold launching services from Wuhan’s Expace – which usually puts satellites into space – for 40 million RMB.
E-commerce and live-streaming is working for small and large retailers alike. Ikea has even started opening its stores to present new launches through live streaming. Traditionally, offline industries like real estate and cultural institutions like museums are also organising virtual tours to stay connected and offer special promotions and services. In order to win, this is the kind of strategic flexibility that brands need.
To give global marketers a deep understanding of China’s new normal and develop strategies to succeed there in 2020-2021, Ashley Galina Dudarenok will be livestreaming her first Post Covid-19 China Masterclass on July 2nd and 3rd. Ashley is a LinkedIn Top Voice in Marketing and an Asia-Pacific Top 25 Innovator. She was in JD.com’s Global China Experts Group in 2018 and was part of Alibaba’s Global Influencer Entourage from 2017-2019.
There will be four modules: China’s Post Covid-19 New Normal, E-commerce and Livestreaming in Post Covid-19 China, Marketing and Strategy in The Post Covid-19 Era, and Business Opportunities after the Outbreak. Each section has actionable insights and practical group activities that will be conducted online to help marketers formulate their China strategy in 2020 and beyond.
Be the first to gain momentum and be a first mover in China. Learn more about the masterclass here.