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TechNode Now Speaks French, Launching TechNode.fr With Partner VELVET Group

Velvet Partner Technode

VELVET is taking a further step to bridge the Chinese and global startup ecosystem. Today, I am proud to announce the launch of TechNode.fr, the French language version of China tech news portal TechNode.com.

Over the past few years, China has undergone exponential growth in digital with an Internet population of 618 million, 500 million mobile Internet users and more than 100 million tablet owners. In 2013, China overtook the United States to become the world’s largest e-commerce market with over €217 Billion in transaction value. TechNode.fr is designed to address French speaking countries & regions (France, Belgium, Switzerland, Quebec, Canada, etc.), opening doors for the 220 million French-speaking community to witness and understand the fast evolving digital landscape of China.

Thanks to VELVET’s expertise in both Chinese and French market, TechNode teamed up with us to design and operate this new website. VELVET is leveraging its team of Chinese, English and French copywriters based in Shanghai to deliver the latest news around China social media, mobile, e-commerce, startups and new trends.

TechNode (formerly known as MOBINODE) is the leading tech blog uncovering the latest news on start-up entrepreneurs, investors, large companies and industry trends in China and Asia. TechNode is the official partner of TechCrunch, managing TechCrunch China. Its main focus are: social media, mobile and e-commerce and new trends such as Big Data and augmented reality. Written in English, Chinese and French, TechNode aims to be the go-to source for original, insightful and opinionated content that helps connect the eco-system of entrepreneur’s, investors and consumers. TechNode is founded by Dr. Gang Lu, one of the most influential Chinese tech bloggers in global web industry.

With this new site, we just can’t wait to bring more online & offline interactivity between China and French web.

If you want more details about TechNode.fr or this announcement, please email us directly at: contact@technode.fr.

Partnered Event – Selling online on China’s E-Commerce Platform in Shanghai on March 25-26th

E-Commerce in China

VELVET will partner with CCIFC for the exclusive “Selling Online on China’s E-Commerce Platforms” on March 25-26th in Shanghai. Dedicated to French companies thrilling to enter the Chinese E-Commerce market to sell products online, the French Chamber of Commerce has tailored an exclusive seminar to understand the E-Commerce market opportunities and meet experts in this field.

China’s market overview:

  • With more than 600 million netcitizens and 250 million online shoppers, China is the biggest e-Commerce market worldwide
  • 75% of Chinese shoppers buy at least once per week
  • In 2012, the overall of online sales reached more than 152 billion euros representing a YoY of 66,5%

Meet the two Leading Players on China’s E-Commerce Market Tmall – with more than 50% of E-Commerce market share – and JingDong – with more than 20% of market share ; as well as agencies expert in the field. VELVET will be pleased to be part of this value added training and be ready to answer questions or interrogations on evolving e-commerce market.

Save the date & Request more details here!

Date: March 25-26th, 2014
Location: Shanghai
Duration: 2 day
Price: 15 900 RMB

China Digital Roundup I Apple, Tmall, Fan BingBing, LightInTheBox

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 Store tmall Premium Brand

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

Fan Bingbing Taobao iron man

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

ModiFace Makeup Mirror

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

Ader LightInTheBox social ecommerce

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 Luxury trends

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.

China Digital Roundup I Mark & Spencer, Tiffany, Instagram, Alibaba

A roundup on how digital is transforming our life and business – both in China and the rest of the world through December 19th.

Mark & Spencer embraces new shopping technology, by Fashion United

Mark & Spencer Technogy store

Retailers including John Lewis and Marks & Spencer are embracing new technology, including mobile point-of-sale tablets, Google mapping and enhanced self-service terminals in a bid to make shopping even more convenient for its customers.

Department store John Lewis is trialling mobile point-of-sale over the Christmas period in three stores, Cheadle, Brent Cross and Peter Jones, as it embraces its use of shopping technology. Each store will use transactional tablets that allow customers to skip the queues at till banks and make their purchases directly with the member of staff on the shop floor who advised them.

Each tablet will be fully linked to the shop’s till systems, allowing customers to fully complete their purchase in the shop or arrange home delivery, in a development that the retailer states is a UK first. In addition to offering payment assistance the tablets will also give shoppers and the assistants access to a range of product information including customer ratings and reviews on johnlewis.com. Initially, the tablets will be trialled in a number of departments including technology and white goods.

 

Tiffany debuts Tiffany Diamond in Beijing with original music score, by Luxury Daily

Diamond Beijing Tiffany & Cie

Jeweler Tiffany & Co. employed Chinese composer Tan Dun to create a piece that sets the tone for the brand among affluent consumers.

Mr. Dun’s composition was inspired by the jeweler’s Tiffany Diamond, a 128-karat yellow diamond that made its debut in China early in December. Tapping a local, yet world-renowned, musician will help Tiffany appeal to affluent Chinese consumers with a penchant for modern classical music.

“This composition by Mr. Dun creates excellent content for Tiffany to use in various forms of social and digital media to reach a large audience of followers and to attract new followers in China,” said Ron Kurtz, president of the American Affluence Research Center, Atlanta.

 

Hong Kong’s Luxury IFC Mall to Launch E-Commerce Site, by Red Luxury

IFC Mall China

Retail has been forever changed by e-commerce and a more connected consumer. In a nod to a growing trend that merges online and offline channels, Hong Kong’s IFC shopping mall is going online, the first time for a Hong Kong mall operator.

IFC Mall will launch an e-commerce website that allows shoppers to access products offered by its luxury brand tenants.

“The internet is changing the way in which people live, and we now have to run a business in ways that we never imagined before,” said a source. “It will not create direct competition with tenants, but help to reach out to more potential customers.”

 

What Instagram Direct Means for Fashion Brands, by Fashionista

Instagram Direct Feature

On Thursday, Instagram unveiled Instagram Direct, a new feature that allows users to message photos and videos to up to 15 of their friends at a time, rather than all of their followers.

It’s like Snapchat, but with a richer featureset: Images and videos don’t disappear seconds after viewing them, and you and your friends can have private conversations about the messages you send to each other in a comments section.

By limiting messages to 15 people at a time, the opportunity Instagram Direct offers for fashion brands and retailers — which generally want to reach as large an audience as possible — may not be obvious.

 

What Chinese Shopped on Alibaba Marketplaces in 2013, by Technode

alibaba online platform

The ever-growing online shopping market in China helped transactions on the past Nov 11th, the annual online shopping day created by Alibaba, reach a record high.

Nearly 6,000 people in wealthy areas of China spent more than RMB 1 million (about $164,000) each on Taobao platforms in 2013, as buying cars, land-use rights, expensive vacations on Taobao became available in the year.

Alibaba released a report on Alibaba Group’s Taobao Marketplace, Tmall and group-buying service Juhuasuan this year.

China Digital Roundup I P1, Line, Condé Nast, McLaren

A roundup on how digital is transforming our life and business – both in China and the rest of the world through December 13th.

Using Big Data to Track Chinese Fashion Trends, by Technode

P1 Big Data Exhibition

With a database of over 6 million street style photos taken across China’s biggest cities and through big data analysis, Chinese lifestyle focused social network P1 is now able to track and predict fashion trends as the develop across China.

Starting this Saturday, P1 will host its Great Style Leap exhibition in Beijing’s Taikooli shopping district. The Style Leap exhibition tells the story of China’s rapidly evolving fashion scene driven by urban trendsetters.

 

Line ventures deeper into m-commerce with make-up flash sale, by Tech In Asia

Line & Maybelline

Today, messaging app Line announced a partnership with all-in-one e-commerce logistics firm aCommerce and L’Oreal’s Maybelline New York to bring the cosmetic brand’s newest product to Thailand.

With this partnership, Line users will get access to an exclusive flash sale on the platform which will last from Monday, December 16, to Friday, December 20. Users who buy this not-yet-disclosed product within the promotional period will be the first to own it before its official release next year.

 

Condé Nast Venturing Into Global E-commerce, by WWD

Conde Nast eCommerce Galeries Lafayette

Condé Nast operations on both sides of the Atlantic have joined forces to break into the global e-commerce game, with the first shoots of new business set to appear before the end of next year.

Condé Nast in the U.S. and Condé Nast International have launched a new division devoted to e-commerce, naming Franck Zayan, who is currently responsible for the e-commerce activities of Galeries Lafayette, as president. Zayan will be based in London, and begin work on Jan. 6.

 

McLaren looks to broaden presence in China throughout 2014, by Luxury Daily

McLaren Shanghai

British sportscar manufacturer McLaren Automotive is set to double its Chinese dealers in 2014 from four to eight as it continues to gain traction in the market.

The brand unveiled its Chinese language Web site and its first four dealers in September as it tried to hit the ground running. Although it may seem that the brand has some catching up to do compared with other luxury automotive brands that have flourished in China, it was able to draw upon its racing reputation for an early boost, having won the Chinese Grand Prix in 2008, 2010 and 2011.

 

Are You Ready For the Store of the Future? by Profit Guide

Store of the Future

This vignette is a hypothetical composite—but not for long: Technology is transforming the in-store experience. Inexpensive analytics software and slick hardware already allow retailers of all sizes to make shopping easier for consumers who demand convenience. “Online shopping has conditioned consumers to expect more from retailers in-store,” says Kevin Falk, CTO at Montreal point-of-sale system developer LightSpeed.

 

Challenges Magazine – Luxury Sales Overcomes Anti-corruption Measures in China

Campaigns against valuable gifts and purchases paralyze apparatchiks. But consumption patterns evolve.

Galeries Lafayette Beijing

Galeries Lafayette, Beijing. The well-known Parisian department store opened in mid-October occupying more than 30,000 square meters of retail space. Evidence shows that large luxury groups still rely on the Chinese market.

How much bribes, kickbacks, and gifts in kind are received annually by China’s officials, politicians and managers of state companies? Answer: it amounts to a mountain full of cash. In 2011, China’s central bank estimated, the sums diverted over the last twenty years summed up to more than 95 billion euros, so about 5 billion a year. Staggering.

Former Prime Minister Wen Jiabao noted that this evil has become “the greatest threat to the ruling party”, and its new leader Xi Jinping expressed that this is a war with no rest towards the millions of corrupt members. The system executives are banned from purchasing jewelry, high-end wine, and luxury leather goods with public funds. Also, they are barred from receiving presents with high monetary value, even though gifting is fundamentally rooted in the culture of the country and its business practices.

All that glitters and blings have been suppressed and perceived as a disgrace due to the new government regulations that have been passed recently. Even ministers store their gold watches – accessories they are crazy about, which represents 40% of Chinese luxury goods – on field trips to keep a low profile. A watchword against luxury already arises for large international brands, while China is expected to account in 2015 at least one third of the global market, estimated at nearly $ 175 billion, according to a study by McKinsey.

Previous drop in sales

During the Chinese New Year in February, a few months after the official launch of the anti-corruption campaign, “luxury goods spending dropped to $830 million, or – 53% compared to the previous year,” says Patrice Nordey, CEO of VELVET GROUP, a digital consulting agency based in Shanghai.

“Receptions and banquets have been cancelled, leaders have been indicted, Rolex watches and ostentatious Hermes hand bags have been banished from the media landscape. The anti-corruption campaign has had a real and noticeable effect on the sales of the luxury groups”.

However, most officials refuse to make a connection between this campaign and the fall of their sales.

“In reality, the slowing down already started since 2010, which was well before the anti-corruption measures. We observe a general slowing down in the growth of the luxury retail market in China, from an 18 % growth in the first quarter of 2010 to a less than 14 % growth in the first quarter of 2013”, adds Patrice.

Consequences: after years of strong growth over the last decade, large luxury conglomerates like LVMH and Kering select their new store locations more carefully within the 3000 shopping centers in the country and have taken measures to completely freeze new settlements stores.

Democratized consumption

Should we be alarmed that French houses rely on China as a growth driver? Not necessarily. Evidence shows that the dynamic is still there. Galeries Lafayette has just opened a store dedicated to fashion that covers 30,000 square meters in one of Beijing’s most popular neighborhoods near  Shin Kong Place, the luxury hotel in the created from scratch in 2007. This is the place to be. Chanel, Gucci, Prada , Armani, Italian and French ready-to-wear brands, more than 900 premium brands, the greatest wine brands in the world , rivers of diamonds … all this has generated a turnover of 6.5 billion Yuan (780 million Euros) in 2011. This has made it the most profitable luxury shopping area (excluding real estate and automobile) in the country. Nick Debnam, Asia-Pacific president of consumer markets with KPMG branch, expresses that the luxury sector “is not in recession,” despite a slowdown.

Online Sales Luxury Market China

In 2015, Online sales is expected to represent 10% of the luxury market in China (Source: iResearch).

“The growth drivers are still there and consumption patterns are changing,” he insists. In fact, luxury is no longer reserved for only Party apparatchiks or large fortune makers in the country. Nearly three-quarters of the 80 million Chinese tourists who travel the world each year now return with luxury purchases which they buy at a price 20-30% cheaper than in China. Their favorite shopping destinations include Hong Kong, Japan, Switzerland and France. The average Chinese consumer’s shopping expense has increased to 1,500 euros, which is far higher than that of the Russians and Indians. Thus, luxury groups have put in place some comprehensive strategies to serve Chinese customers not only “in China, but also in their stores in Paris, Milan and Geneva,” says Patrice Nordey.

Boom on Internet

Luxury stands out on the Chinese Web – China ranks as the biggest market for e-commerce worldwide, before the United States. Estimated at 1.35 billion Euros in 2011 in the former Middle Kingdom, the e-luxury market has indeed jumped 70% last year with a total 2.3 billion Euros of online spending. It is expected to exceed 5.5 billion by 2015, according to iResearch Chinese cabinet, and thus capture 10% of the local luxury market. “The anti-corruption campaign will not change the situation,” said Wang Jun, a Beijing blogger.

This strong growth of online luxury disrupts traditional models, offering “the possibility of exploring brands on your iPad, via social networks such as Weibo, Wechat or P1. Consumers have the option to buy luxury goods and have them delivered straight to their home through online retailers such as Yoox, Glamour Sales, and Shangpin”, explains Patrice.

Is China the new continent for luxury? Despite the impact of the current campaign that targets the “rogue cops” Party, opportunities remain “for brands that manage to adapt to this new context.”

Article by Pierre Tiessen.

China Digital Roundup I Martell, Bomoda, Snap Fashion

A roundup on how digital is transforming our life and business – both in China and the rest of the world through December 5th.

Martell’s Savvy WeChat Campaign Engages China’s Frequent Flyers, by JingDaily

Martell WeChat

Travelers making their way through Beijing and Shanghai airports this fall can participate in an innovative new ad campaign by Martell Noblige Cognac that combined mobile and offline marketing with a focus on interactive participation by consumers. The campaign, entitled Dangdai MingshiYingxiang Xun Lu (当代名士•映像寻旅) in Chinese translated as “Modern Elites and their Journey of New Elegance”, sent famous photographer Justin Jin to 6 Chinese cities to photograph “men of elegance” .

The Beijing and Shanghai airports both featured interactive exhibition of Jin’s photography with a special QR code below each photo. Scanning the QR code allowed users to access the brand’s WeChat page and access profiles of each “elegant man” with audio descriptions of their accomplishments. The campaign also featured a free plane ticket giveaway to winning participants, and those who were not physically in the airport can send a number or voice command via WeChat in order to be entered in the drawing.

 

Bomoda Launches Mobile App Aimed at China’s Connected Fashionistas, by JingDaily

Popular - BOMODA

Since its launch in May 2012, New York City-based online community Bomoda has been building up a quarter-million strong network of China’s most discerning luxury shoppers through its Chinese-language online fashion and lifestyle newsletter. In the past two months, the curatorial site has embarked on a new chapter with the launch of its new mobile app and social sharing site, enlisting major brands, retailers, and key opinion leaders (KOLs) to promote a new interactive platform that is the first of its kind in the China market.

The new mobile app, launched on November 18 for the iPhone, allows for the sharing of images through the company’s new Pinterest-like social site that was unveiled in October. On the site, users have the opportunity to upload, share, collect, and repost their favorite fashion-related images, as well as share on major Chinese social media sites including WeChat Moments, Weibo, Tencent, QQ, and Tencent Weibo. Its high-fashion aesthetic makes it the first of its kind in China, standing out from other more mass-market Pinterest-like sites such as Meilishuo and Huaban.

 

Stores Offer Click & Collect to Attract Consumers this Holiday Season, by Luxury Daily

Click & Collect

Bricks-and-mortar retailers are having to compete with online retailers such as Amazon for the holiday shopping season, and they are finding new ways to get consumers to shop with them. A number of department stores offer click-and-collect services where consumers can order items online and pick them up in-person in-store and, in most cases, with no delivery fee. By doing this, stores are able to merge the ease of online shopping with speedier return, getting consumers to visit their stores in-person for convenience.

Click-and-collect is becoming more popular as it allows the customer the convenience of shopping from home, but [with] the instant gratification of receiving the purchase virtually instantaneously,” said Robert Cuthbertson, senior manager at Boston Retail Partners. “Customers can avoid long lines, busy fitting rooms, being overwhelmed with roaming racks and racks of clothes and product.”

 

Snap Fashion and Styloko: Search Using Images to Find The Perfect (and Cheapest) Wardrobe, by Metro

Snap Fashion app

Snap Fashion just might be your secret weapon this party season – the website is the perfect tool for finding the exact item a celebrity is wearing. You can also use its phone app to snap an image of a dress you find in a shop to browse for similar alternatives, or to find the perfect heels to match.

The technology trawls through thousands of possibilities to find you that exact item, before redirecting you to the retailer’s site to purchase. Or it will present you with styles similar to the item snapped, from a range of different brands and price points.

 

How Ready is Southeast Asia for Online Payments? by Tech In Asia

Online Payment APAC

Rapid economic expansion, a young population, and low-cost smartphones and tablets are creating tech-savvy generations across Southeast Asia. Major e-commerce players such as GrouponeBayRocket Internet, and LivingSocial have ventured into Southeast Asia, making significant investments into these markets. With increasing penetration of e-commerce into Southeast Asia, global payment companies such as PayPal are investing in the region. But as they do, stiff competition is being demonstrated from a number of local players.

While the industry’s potential is obvious, technology investors and global payment providers should be wary of rushing into these markets without understanding the cultural and regulatory differences of each country, which affect how merchants and consumers behave. A tailored strategy then, which considers the unique stages of each market’s development, factoring in technology, infrastructure, consumer preferences, and regulatory environment, is far superior to a regionalized blueprint approach.

China Digital Roundup I In-Store Technology, Michael Kors, TechCrunch Shanghai

A roundup on how digital is transforming our life and business – both in China and the rest of the world through November 22th.

Is In-Store Technology Increasing or Subduing the Relevance of Retail Employees? from Luxury Daily

Guccy In Store Technology

As luxury retailers implement more responsive and comprehensive technology into their stores, employees may find it challenging to prove their relevance.

Mobile technology holds clear advantages over people, such as the ability to retrieve warehouses of product information and design virtual outfits on the spot. While making technology a part of the retail experience can no longer be avoided, luxury retailers should be aware that shearing away too many jobs can hurt brand reputation and certain positions just can’t be replicated by a device.

The report notes that as technology continues to reinvent the retail space, retailers should invest in omnichannel capabilities that will enrich the relationships between consumer and sales associate.

 

China’s Mobile Habits, from Red Luxury

China mobile trends 2013

The smartphone phone has fundamentally changed the way consumers shop, from how they evaluate products to how they buy. A new study by Mindshare China and Millward Brown China urges brands to deliver “a seamless branding and retail experience across all platforms.”

“We know China is such a dynamic market and consumers are increasingly not only using PCs and laptops, but are now directly engaging on mobile platforms for shopping purposes. This increases expectations for brands to deliver a viable shopping experience on all store fronts,” says Ben Condit, Digital Partner at Mindshare China. “From the research, compellingly, we see this to be true across all market levels in China, not just at the top tier.”

 

Michael Kors Brings Instagram Campaign to Life at Tokyo Museum, from Luxury Daily

tokyo Michael Kors Instagram

U.S. label Michael Kors is connecting fans of its Selma handbag through an Instagram initiative that stimulates conversation and unites the brand’s global tribe of enthusiasts. The fan-fueled and city-focused #JetSetSelma effort builds upon Michael Kors’ already diverse product-based digital presence. The label has successfully used key social media platforms, such as Tumblr and Pinterest, to solidify its relationship with core consumers.

“#JetSetSelma is a platform on which to build the association between the handbag’s style, name and social media identity,” said Lisa Pomerantz, senior vice president of global communications and marketing at Michael Kors, New York.

 

TechCrunch Shanghai – How Chinese Bitcoin Businesses See the Market, from Technode

bitcoin conference TechCrunch Shanghai China

The trading price of Bitcoin, the algorithms-powered virtual currency, as of writing is about $530 on the trading platform Mt. Gox. Looking at real-time trading platforms the trading volume from China has been among the top markets worldwide. According to Bitcoin Charts,  31% of the total exchange volume worldwide is traded in CNY (Chinese Yuan).

During the event, the panelists conclude that 1) the value of Bitcoin would continue going up, 2) the commissions fee rates are lower than what traditional financial services charge. Bitcoin is the first time one currency has so many advantages, 1) scarcity, 2) distributed computing 3) digital payment 4) direct transactions that you don’t need any third-parties to process money and 5) it’s very safe that theoretically it cannot be stolen.

 

China’s Unstoppable E-Commerce Market Ready to ‘Explode’, from Jing Daily

China e-commerce expansion 1st market

According to the firm’s 2013 Global Retail E-Commerce Index, China’s $64 billion online retail market is expected to “explode” to reach $271 billion in the next five years, placing it at the top of the list for the world’s most promising e-commerce markets. The 30-country ranking includes both developing and developed markets, with Japan and the United States trailing China in second and third place on the list.

With a developing “Next Generation” categorization, China’s e-commerce market has “been able to shortcut the traditional online retail maturity curve as online retail grows at the same time that physical retail becomes more organized,” according to the report. Although there are still significant logistical challenges, the report predicts that “infrastruc­ture improvements, increased Internet access for rural regions, rising wealth, and consumers’ growing predisposition to spend” will all lead to the market’s continued boom.

China Digital Roundup I The Left Shoe Company, Tmall, Cartier, Le Printemps

A roundup on how digital is transforming our life and business – both in China and the rest of the world through November 12th.

The Left Shoe Company: Old Craftsmanship and New Tech, from Business Of Fashion

Left Shoe Company Scan

The London outpost of Finnish upstart The Left Shoe Company is located in a jewel-sized store in Princes Arcade, a covered shopping arcade that runs between Piccadilly and Jermyn Street in one of the British capital’s smartest shopping districts, known for its men’s shoe and shirtmakers.

At the store, customers can order made-to-measure shoes, selecting from six different sole options and 20 different upper variations, available in a wide range of colors and materials, from leather and suede sourced from Italy to exotic skins like stingray and alligator, sourced from Taiwan and Paraguay, respectively. The shoes are designed by Maurizio Mazzucato, who works with some of Italy’s largest fashion houses.

 

Alibaba’s Tmall Sees $500 Million spent in First 20 Minutes, from Tech In Asia

Tmall Singles Days

It has just turned November 11 in China, commencing the nation’s craziest day of online shopping discounts and spending. It’s called 11/11. At Alibaba HQ, China’s top e-commerce company is watching its consumers spending in real-time in what I like to call its ‘big data’ war-room. Alibaba’s Tmall, its open marketplace for merchants, saw $177 million spent in the first six minutes. That leapt to $266 million (RMB 1.64 billion) after the first ten minutes, and then to very near $500 million (RMB $3.021 billion) at the 20-minute mark. (UPDATE: After the first 50 minutes, $1 billion has been spent).

In the hour before midnight, Alibaba representatives said that six million people had put items in their virtual baskets, awaiting the start of 11/11 and for the discounts to become active. More than 20,000 merchants on the Tmall online marketplace – from small businesses to major brands like Uniqlo – are taking part in the sales day.

 

How to Set up a Fashion Business from Scratch via e-Commerce, from Business Of Fashion

eCommerce Fashion Brands

It’s no secret that the web has become one of the most effective tools for fashion brands to market and sell their wares. According to market research firm Emarketer, online sales of apparel and accessories are now growing faster than any other e-commerce product segment (20 percent per year).

By 2016, the category will account for $73 billion worth of online purchases in the US alone, just over 20 % of all online retail sales. And while young fashion brands will always need to maintain offline touch points where customers can touch, feel and try on product, seizing the e-commerce opportunity is equally crucial to long-term success.

 

Cartier CEO Stresses Importance of Carefully Curated Digital Presence, from Luxury Daily

Cartier - YouTube

The North America chief of French jeweler Cartier at the L2 Forum 2013 said that while the brand is investing heavily in digital media, the house proceeds with caution when applying a new social media tactic, keeping in mind the brand image and long legacy.

While other brands jumped on Facebook and began posting a lot of content, Cartier decided to test the waters first, only posting one item a month out of worries that fans would tire of seeing multiple posts from them. During the “A Conversation with Prestige CEOs” session the Cartier executive said that the jewelry brand has since raised the frequency of its social media postings, but still keeps a tight hold on its presence online.

 

Printemps Sets E-commerce Strategy, from WWD

Le Printemps Paris

Absent from e-commerce until now, Printemps said it hopes to generate at least 10 % of its sales from the channel within three to four years.
“We believe the French market is at a tipping point,” Printemps chairman and CEO Paolo de Cesare said. “Customers want to have an experience online, and in a physical store.”

Last month, Printemps acquired French fashion e-commerce site Place des Tendances from media firm TF1 Group, and de Cesare said it would be its main vehicle in the online world.