A roundup on how digital is transforming our life and business – both in China and the rest of the world through January 10th.
Apple aims for more Chinese customers with a new e-store on Alibaba’s Tmall, by Tech in Asia
Apple has opened an official web store on Tmall, Alibaba’s “online mall” for brands and big-name merchants, reports the Wall Street Journal. Accessible at apple.tmall.com, the new online storefront marks Apple’s first foray into setting up an e-store outside of its online Apple Store.
What’s the significance here? For one thing, it’s a sign that Apple is directly utilizing yet another sales channel through which it can reach Chinese consumers. Last December it finalized a massive deal with domestic telco China Mobile, and it will cut the ribbon at a shiny new Apple Store in Beijing today.
Fan Bingbing’s potent ‘Star Effect’ worth $74 million on Taobao, by JingDaily
Brands such as Louis Vuitton, Chopard, Cartier, Mercedes-Benz, Adidas, Moët & Chandon, and L’Oreal knew what they were doing when they hired actress Fan Bingbing (范冰冰) as their celebrity brand ambassador: a report last month by online retail giant Alibaba’s Taobao revealed that the Iron Man 3 star has generated US$74 million (RMB450 million) in e-commerce revenue.
Showing that “star effect” is actually quantifiable, the e-tailer released its list of the most lucrative brand ambassadors generating income for the site in 2013. According to the report, Fan easily topped the charts. The ranking was calculated by taking into account the name keyword searches that brought in the most revenue, along with the total sales revenue of each brand with a celebrity ambassador, according to Taobao. Unsurprisingly, her largest influence was in the areas of women’s dresses, handbags, high heels, and sunglasses.
Try on virtual makeup and pay with your hand with Retail Tech at CES 2014, by Brand Channel
Traditionally the International Consumer Electronics Show (CES) is an event that offers a glimpse of the future in technology from a consumer perspective. CES 2014 is no different—but it wasn’t just a glitzy keynote by Yahoo CEO Marissa Mayer that was creating buzz. Also on display were several technological innovations that suggest a whole new retail world is right around the corner.
The latest innovations are: “3D Augmented Reality Makeup and Anti-Aging Beauty Mirror” by ModiFace, The Biometric Scanner by PulseWallet, the virtual currency BitCoin and the tracking technology iBeacon by Apple. This is just the beginning of a brave new retail world—and consumers have yet to weigh in on just how much technology they want to help them shop.
China’s LightInTheBox acquires Ador, the Seattle-based social commerce site, by Tech in Asia
LightInTheBox, the China-based e-commerce and sourcing company, has acquired Ador, the Seattle-based social e-commerce startup, for an undisclosed sum. The Lockerz team then launched Ador last April as a site where users could follow celebrities and models, track what they wear, and then purchase goods from retailers that provide Ador with a cut.
The acquisition is quite an interesting one. Ador appears to be in a state of constant transition, and a relationship with LightInTheBox – which, as a business and a brand, is pretty far from a sexy social e-commerce firm – will likely bring about further changes in its business model. Meanwhile, LightInTheBox can leverage Ador’s expertise in social and its existing partnerships with US retailers to move beyond its reputation as a seller of high-quality, inexpensive Chinese goods. In addition, the Ador team’s experience at Amazon will bring along knowledge and industry connections.
China Luxury Trends for 2014, by Red Luxury
China is a country in constant change. The rate of change related to anything China has been phenomenal, presenting both challenges and opportunities for luxury companies who want to part of this promising market.
Despite a much-reported growth ‘slowdown’ and political upheavals, China’s growth will continue. We expect Chinese luxury consumers’ desire for less conspicuous consumption and unique experiential pursuits to gain further momentum this year. Other trends to watch in 2014 include:
E-Commerce/M-Commerce Becoming the Norm – Lower Tiered Cities Become Major Battlefield – Research & Purchase Model Is Here to Stay – Growth of “Lifestyle” Brands – Shift from Rapid Store Expansion to Improve Store Productivity – Second Hand Luxury Boom – China to Become Greener.