For a glimpse of retail’s future, let’s look at China.
Since Friday kicked off the Lunar New Year, it’s the perfect time to examine China’s growing influence on global e-commerce.
Many retail tech investments we’ve seen in North America and Europe over the past year have been common for years in China.
These innovations are shaping consumer habits and expectations in a domestic market of 1.4 billion consumers, and their influence will extend to global shoppers.
Overarching trends:
1. Efficiency:
Mobile payment and QR codes (for access to detailed product data and promotions) speed up the online customer journey.
2. Seamless service:
Online purchases trigger offline coupons and vice versa. WeChat users never exit the app, from product discovery to orders and reviews.
3. Social excitement:
WeChat and livestreaming attract enthusiastic crowds with magnetic, shareable content as the mall moves online.
What do you think of China’s e-commerce innovation?
Related:
2021 Retail Tech Trends
Social Commerce is the Future of Retail
