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March 22 2019

Friday Data Snack!

Industry Insights Our Views

 

  • Meituan reported total gross transaction volume (GTV) growth of 3% year-on-year to RMB 515.6 billion in 2018 and GTV of food delivery business increased by 65.3% to RMB 282.8 billion? click for more…

Insight & Implication: Meituan is aggressively growing by providing consumers a wide selection of daily life services. It’s offline-to-online traffic is performing well, so brands can utilize this to drive both online and offline engagement, depending on the role Meituan can have in their communications.

 

  • Pinduoduo generated RMB 471.6 billion in GMV in 2018, an increase of 234% year-on-year, surpassing JD.com and becoming the second largest eCommerce platform by total active users of 418.5 million in 2018? click for more…

Insight & Implication: The large number of active buyers has brought Pinduoduo to the number two position in China’s eCommerce; however, the product quality remains to be an issue and, while Pinduoduo represents an important eCommerce opportunity, brands need to be careful about potential negative impact that can occur as a consequence of the platform’s reputation.

 

  • The Chinese luxury market posted 20% growth in 2018, mainly contributed by millennials with 70% of China’s millennials owning their own homestwice the rate of US millennials? click for more…

Insight & Implication: Millennials have major purchase power in China and they are even more willing to spend money than their Western counterparts. If brands want to attract them, they need to consider how to connect with them through a truly meaningful, improved experience and understand what can successfully differentiate them from plethora of other brands across different categories trying to do the same.

 

  • The number of middle-class households in mainland China reached 33.2 million as of August 2018 and the middle-class’ feeling of well-being declines across the age group – post-70s’ the least happy while post-90s’ the happiest? click for more…

Insight & Implication: While more Chinese people step into middle class, they start to have more concerns and worries including social pressure, work-life balance and financial management. When communicating with those consumers, brands need to show they care, understand them and address their concerns in a creative and constructive way.

 

  • As of January 2019, Chinese Q&A website Zhihu had over 220 million users, the majority in the 18-35 range and it offers subscriptions to hundreds of Chinese magazines, 3,500 private classes and live-streaming lectures and 10,000 e-books? click for more…

Insight & Implication: The shift from Baidu to Zhihu among young Chinese people has been visible and, in order to build a strong paid content ecosystem, the platform now offers a wide range of services. Zhihu understands the importance of added value to young Chinese consumers, and businesses can utilize this to ensure that this audience is properly educated about their category and brand through high quality, entertaining content that brings the engagement brands seek.

 

Have a great weekend!

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