Consumer Discretionary

China, A Leading Country In E-Commerce

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<p>China has already reached 77% of products sold in the e-commerce space.</p><p>The Edge company, which has brands such as Apple, The Walt Disney Company, and Samsung Electronics in its client portfolio, has conducted a study with a sample of 2,500 retail chains, in ten prominent markets: China, South Korea, United Kingdom Kingdom, Brazil, Germany, United States, Japan, France, Canada, and Mexico.</p><p>China is the country that is at the forefront of online sales, which represent 77% of the total. In the second position is South Korea, with 44%, and in third place is the United Kingdom, with 32%.</p><p>On the other hand, the largest increase occurred in Latin America, with an increase of 80% in Mexico and 75% in Brazil.</p><p>Edge, expects online sales to continue to grow in 2022 to represent 33% of global sales.</p><p>58% of world e-commerce is in the hands of 6 companies (and two of them are from Alibaba Group, the Chinese leader).</p><p>Live videos and live third-party tips have become a core feature of China's largest e-commerce apps like Taobao Marketplace, JD.COM, and Pinduoduo.</p><p>Shopping is also becoming an integral part of China's most popular social video apps, Kuaishou Technology and Douyin, the Chinese version of ByteDance's TikTok.</p><p>In Europe, we continue to settle for &ldquo;online&rdquo;, flat and static stores.</p><p>It seems as if our electronic commerce is staying in the "Stone Age".</p><p>Amazon is great for finding "convenience" items. But it seems that our neighbors in China believe that for the fastest-growing categories in e-commerce, such as fashion, beauty, and home goods, "people want to hear what others think and understand the story of the product."</p><p>The metaverse, artificial intelligence, augmented reality, Web 3.0, voice search commands, live streaming, omnichannel sales, and chatbots are some of the major trends that are already dominating e-commerce in 2022.</p><p>Are we missing a part of the movie?</p><p>&nbsp;</p><p>&nbsp;</p>
KR Expert - Javier Perez de Leza Eguiguren