PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Smaller Cities in China Are Experiencing an eCommerce Boom Thanks to Younger Consumers

Josh Einis by Josh Einis
October 26, 2022
in Analysts Coverage, E-commerce
0
eCommerce, BHMI’s Concourse Financial Software Payment Processing Alternative Payments

BHMI’s Concourse Financial Software Suite “Future Proofs” Payment Processing With Equal Level Support of Card-Based, Non-Card and Alternative Payments

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

Cities in China, including Caoxian and Dayuan, are embracing eCommerce—not only in terms of how consumers are shopping for goods, but also in how many businesses are now going through a digital transformation.

When it comes to ecommerce, China is leading the pack at a global scale. However, smaller cities within the country haven’t seen a digital transformation quite like this. And that’s because recently, young consumers have been flocking to smaller cities for a slower pace of life, more affordable housing, and greater ease in starting an online business due to less competition.

A recent article by the Global Times highlights this trend:

Currently there are more than 350,000 people engaging in the e-commerce industry [in Caoxin county] equal to providing work for one in every five people in the county, as online stores and livestreaming become popular choices for young people looking for work.

Many consumers within these smaller cities are also preparing and taking part in the upcoming Singles’ Day festival—a 24-hour online shopping event—that takes place every year on Nov. 11. Singles’ Day is the biggest shopping day in China and has seen significant growth. What’s more, other countries including the U.S. have adopted some version of Singles’ Day and many brands offer promotions and sales during this time period.

In recent years, Singles’ Day has evolved beyond just online shopping and more brands and companies have taken to emerging technology such as livestreaming as this way of shopping continues to gain popularity among younger consumers. An online streaming base manager interviewed by the Global Times said he was already prepping for Singles’ Day and has already seen a nice sales growth month-over-month.

As younger consumers continue to flock to smaller cities with the region, more business will adopt a digital-first mentality and eCommerce will continue to grow.

Tags: ChinaDigital Transformatione-commerceshopping
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Javelin Strategy & Research analysts and industry professionals.

    Must Reads

    open-banking Data-Sharing as a Solution to Cash Flow Issues standa

    Disjointed Open-Banking System in U.S. Leaves Opening for Permissioned Data Providers

    September 29, 2023
    FedNow

    FedNow Could Mean a Renaissance for Smaller Financial Institutions

    September 28, 2023
    Best Merchant Practices for Dealing with Supply Chain Disruption

    Nearly Half of Merchant Data is Probably Wrong. Here’s Why it Matters.

    September 27, 2023
    Mitigation of P2P Fraud Begins with Education

    Mitigation of P2P Fraud Begins with Education

    September 26, 2023
    digital payments

    Mass A2A Payment Adoption in The U.S. Contingent on Compelling USP

    September 25, 2023
    cashless payments mobile

    The Synergy Between Cashless Payments and Seamless Mobile Coverage

    September 22, 2023
    The Power of AI and How its Transforming the Financial Landscape

    The Power of AI and How It’s Transforming the Financial Landscape

    September 21, 2023
    “You’re a Fintech, I’m a Legacy Bank – How Can We Collaborate?”

    Investing in Fintech: Opportunities and Challenges in the Payments Industry

    September 20, 2023

    Linkedin-in Twitter

    Advertise With Us | About Us | Terms of Use | Privacy Policy | Subscribe
    ©2023 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    Menu
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • Recent News
    • Resources
    Menu
    • Industry Opinions
    • Recent News
    • Resources
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result