China’s ecommerce giant drove US$34.4 billion in revenue in the fourth quarter, reiterating the staying power of online shopping.
Chinese regulators are preparing to impose new regulations on the booming use of livestreaming. Although the changes represent potential risk for brands, representatives from e-commerce platforms and influencer agencies welcome the moves.
Several luxury brands including Prada Group’s Church’s, Christopher Kane, Tom Dixon, and Sergio Rossi launched on platform
To offset COVID-19 losses, brands joined China’s three-week shopping holiday, 618, including many luxury brands that have long shied away from discounts.
Online streaming, aiming for long-term interaction and better application of big data have been areas of focus for brands during the first major post-COVID shopping festival.
TOP OF THE CHARTS: Despite a shrinking retail market overall, China will supersede the US retail market in 2020 as the world's largest, with ecommerce up 16%, says eMarketer.
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