Welcome! Thursday - Jun 22, 2017

Alibaba To Offer Consumer Credit Ratings Using Its Data, 76% of China’s Luxury Consumption Is Overseas, How Celebrity Sells In China


China Ecommerce Weekly Breif-Obserevre Intelligence

China Focus: China E-Commerce Targeting Rural, Foreign Markets

BY XINHUA NET

China’s e-commerce transactions expanded 20 percent year on year to hit 12 trillion yuan (US$1.96 trillion), while online retail sales grew 41 percent (2.6 trillion yuan). Alibaba, JD.com Inc. and Suning Commerce Group have started to expand e-commerce into rural areas, which is expected to top 460 billion yuan in sales by 2016 and exceed urbanites’ consumption in as few as 10 years.

 

How Celebrity Sells In China

BY BUSINESS OF FASHION

Luxury brands are seeking Chinese celebrity ambassadors. However, unlike the West, few Chinese celebrities will collaborate with designers. Tim Lim of Modern Media Group explained that the cooperation between stars and luxury brands is a search for a reasonable solution rather than the perfect combination.

 

76% of China’s Luxury Consumption Happens Overseas

BY CHINA DAILY

China remained the top buyer of luxury goods last year. Domestic consumption was US$25 billion in 2014, down by 11 percent from the previous year, while their luxury consumption in overseas markets grew by some 9 percent annually to US$81 billion last year. Chinese consumers purchase 76 percent of their luxury goods while overseas.

 

Alibaba Data to Help Provide Consumer Credit Ratings

BY THE NEW YORK TIMES

Alibaba is tapping into its data to provide credit ratings on consumers. Ant Financial Services, a privately held company controlled by Jack Ma, introduced Sesame Credit Management Group, a credit scoring business that will rely primarily on online data, using the spending and saving behaviors of its over 300 million registered users.

 

Chinese Market to Stabilize In 2015, LVMH’s Watch Chief Says

BY BLOOMBERG

China’s luxury watch market will stabilize in 2015, said Jean-Claude Biver, the head of LVMH Moet Hennessy Louis Vuitton SA’s timepiece unit, due to the growth of the country’s middle classes.

 

By Su Jun Lim. Editor: Luke Dodds

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