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It is estimated that China's ecommerce sales will, for the first time, account for more than 50% of retail sales in 2021. To put things in perspective, the country with the next highest rate of ecommerce as a percentage of total retail sales is South Korea, which is projected to be 28.9%.
However, as the ecommerce market continue to expand in size, more and more regulations from the government are placed on the dominant players. In April of this year, Alibaba was fined 18.2 billion RMB ($2.8billion) for violating antitrust laws, as the company had been exerting great pressure on merchants not to do business with competitors such as JD. This regulation gave brands and sellers a lot more freedom.
In this spotlight session, we are hosting several key players in the ecommerce field to address some important questions that's on everyone's minds:
- How to protect your best interest when working with ecommerce giants such as Alibaba and JD?
- Who are the biggest beneficiaries of events such as Double 11, 618, Double 12, etc.?
- What does the future look like for the ecommerce industry in China? Will it continue to grow steadily? What are some of the business opportunities in this seemingly oversaturated market?
KEY POINTS
- Ecommerce
- KYC (Know your customer)
- Digital
- Consumer Trends
- Advertisement & Marketing