A broader depression has been weighing on the country’s supermarket sector, especially for big-box retailers that are fighting the rising tide of competition from online shopping platforms and smaller physical stores.
E-commerce
Society
A livestreamer’s comments over the cost of an eyebrow pencil recently brewed a public opinion storm in China. While the incident may be stirred by the livestreamer’s insensitive comments, it speaks to the public’s deeper discontent with the grim economic outlook and employment prospects. Lianhe Zaobao correspondent Chen Jing tells us more.
Economy
With the rise of e-commerce, traditional department stores are having a hard time attracting customers, especially following three years of the pandemic. While some stores have managed to re-style themselves to tap into the younger generation, others have struggled to move past the fashion of 20 or 30 years ago and are closing their doors as a result.
Economy
TikTok is set to pour US$12.2 million over the next three years into supporting more than 120,000 small businesses and entrepreneurs in Southeast Asia, as it pushes into the e-commerce business in the region. However, it will not be smooth sailing as TikTok will need to contend with regional e-commerce titans GoTo, Shopee and Lazada.
Economy
Tencent is pushing hard into the crowded social video market through its three-and-a-half-year-old Channels platform, a function embedded in WeChat. It has hopes of deriving associated revenue from livestreamed e-commerce. But how will this platform compare to frontrunners in the field such as Douyin and Kuaishou?
Economy
While Chinese e-commerce platforms like Shein and Temu have been doing well in achieving fast and high growth in the US market, they face commercial and regulatory challenges too and would need to undertake several risk mitigation strategies.
Economy
Although Chinese fast fashion platforms such as Shein and Temu are gaining pace in the US, they could be the target of stringent US regulations over a variety of concerns such as personal data risks and trade loopholes.
Economy
Chinese platform firms that have expanded beyond the Chinese market to the US and West have had to adjust their business models, first to gain a sizeable market share, and now to handle the criticisms and pitfalls that come with a measure of success. How can Chinese e-commerce platforms like Shein and Temu survive and thrive in overseas markets?
Economy
Chinese businesses are flocking to Saudi Arabia, in what they see as the latter's "reform and opening up" period of opportunities. While bilateral trade and investment has increased, the Chinese also see Saudi Arabia as a gateway for the Middle East market, in emerging fields such as cloud services and artificial intelligence, and as a vibrant venture capitalist hub.