![]() ![]() Tencent-backed Kuaishou, for example, is extremely popular amongst citizens of lower-tier cities. China is interesting in the fact that it has app preferences not just across age groups but also cities. It’s a particularly useful function for Alibaba-backed RED, which sees designer brands such as Gucci and Louis Vuitton growing their presence to a female, fashion-conscious audience looking to catch a deal or giveaway.ĭigital buyer penetration is also higher than anywhere else at almost 80%, and these digital shoppers are present across all demographics. RED has recently integrated mini-programs directly into the app, which helps keep users from exiting the app and keeping on brand. Dedicated brand spaces beyond standard social media pages offer a more interactive experience and measurement of traffic and demographics. ![]() Now a staple of social apps, mini-programs give brands the ability to connect with their audience through content, product deals and customer service. Mini-programs, for example, were first introduced to WeChat to allow for an ‘app within an app’ user experience. The original Chinese super app, WeChat, has seen huge success with this model and has been able to provide brands with reaching their audience in new, innovative ways. These apps provide users with everything from ecommerce to ride-hailing, messaging, social content and much more. So what can brands learn from the success seen in China? The Rise of ‘Super Apps’Ĭhinese developers have a knack for creating so-called ‘super apps’. Douyin and its Tencent-backed competitor Kuaishou have invested heavily in their digital shopping capabilities and do their best to blur the lines between commerce and the organic app experience. China’s domestic tech giants such as Tencent and Bytedance have capitalized on recent m-commerce trends and have reached near perfection on integrating in-app commerce to a wide array of app verticals. Many Chinese marketers have seen this as a long time coming for TikTok as it has already been in play for TikTok’s Chinese sister app Douyin for quite some time. The TikTok Shopping functionality will give marketers yet another avenue to leverage influencers and monetize users on the platform. Western markets are starting to see glimpses of the Chinese social ecommerce strategy with the recent partnership between TikTok and Shopify. While it’s not a new concept to Western apps and brands, the level of sophistication in China is apparent to anyone who knows or invests in the market. It remains to be seen whether Douyin Pay will become a threat to Alipay or Wechat Pay, but there is no doubt that the exclusive partnership is a major opportunity for Bytedance, and something that the two tech giants Alibaba and Tencent follow closely.Online shopping has become a way of life in China, accounting for over 36% of total retail sales. The move is a scoop for Douyin Pay and can potentially attract hundreds of millions of consumers onto Douyin Pay´s platform. The hosts of the Spring Festival Galla will reveal a code which the viewers will have to use on their phones to get the red envelopes. It is now commonplace to use mobile platforms to send digital ’red envelopes’. It is also what brands typically hand out as coupons or vouchers. The red envelope is a traditional Chinese monetary gift signaling future prosperity that parents and grandparents usually give to their children. The Gala is broadcasted on the eve of the Chinese New Year, which last year had over 1.2 billion viewers, making it the world’s most-watched TV broadcast.ĭuring the show, Douyin will have the exclusive right to sponsor and issue 1.2 billion yuan (185 million USD) in the form of ’red envelopes’ directly to the viewers. According to Reuters, Douyin has in an aggressive move sued Tencent Holdings (owner of Wechat) for alleged monopolistic behavior, and asked for 13.94 million USD, so the battle is on.īytedance’s CEO, Zhang Nan, has announced that Douyin will be an exclusive partner of the Spring Festival Gala 2021 TV show next week. It may therefore become increasingly difficult for the existing players such as AliPay, Wechat Pay and now Douyin Pay to compete in the arena of payments.Ĭompetition is fierce, and currently Tencent´s Wechat is preventing users from sharing content from Douyin. This happens alongside tighter regulations for the tech giants, which was exemplified by Ant Financials IPO being taken of the table following Jack Ma’s speech about slow progress and innovation among Chinese regulators. When launching an official digital currency, the tech giants will no longer have a duopoly on digital payment solutions and the power will flow back in the direction of the state. With the introduction of an official, digital currency China is taking a further step on its digital transformation journey. But China is not only ahead when it comes to digital payment solutions. ![]()
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