(Newswire.net — February 11, 2021) —
What You Must Know about May 10th
May 10th is a special day for Chinese shoppers and merchants. This is the day where it is customary to hold an e-commerce day that revolves around the theme of Chinese brands. The day is aptly known as “Chinese Brands Day,” and it is an exciting shopping event.
JD.com wanted to see how shopping trends progressed by using big data and understanding China’s overall consumer base. Jingdong and its Big Data Research Institute sought to understand more about the behaviors of the Chinese consumer.
The division was able to do quite a bit of work as it was able to gather data around “Chinese Brands Day” and cyber holidays.
The results of the overall research were fascinating and would certainly provide more insight into targeting the shopping appetites of Chinese consumers in a larger fashion. The JD Big Data division gathered information, compiled the information, and distributed the crucial data in an intriguing trends report. It was able to show how consumers interact with domestic brands in 2020.
According to the firm and the JD big data division, domestic brands saw an increase in demand. Transaction volumes for over 500 brands on the Jingdong platform moved past the RMB 80 million threshold level and then some. What might surprise you is that over 70 of these brands would fall under the domestic brand segment. Another startling fact was that over the 150 brands they were able to notice had transaction volumes over RMB 450 million; at least 120 were domestic.
Another intriguing point in this regard is that the JD Big data division shows that these were results that took place over the course of a few months. These results took place from January to April of 2020.
That is but a short time frame to have such significant sales showing that the consumer appetite is strong in China despite recent events.
Key Information From The JD Big Data Trend Report
The higher the quality present within a specific Chinese brand or a slew of Chinese brands, the more likely it was that Chinese consumers would shop for them. That is an interesting point that domestic brands and international brands should pay attention to in this day and age.
That means that a domestic brand can have more value to consumers and can have more staying power if they produce higher quality goods. That speaks volumes to outsider brands as well. It shows that international brands must pay more attention to the unique desires and wants of Chinese consumers to gain their trust and hard-earned currency.
Another critical point from the JD Big Data report is that as domestic brands continue to survive and thrive, they can attract more consumers and seize a larger portion of the market share in leading Chinese cities. It is no wonder why more educated and wealthy consumers are purchasing from their local merchants and supporting them.
Did you know that females are another critical portion of the market? These up and coming spenders continue to make waves within the Chinese domestic market with their purchases. For instance, these individuals spend more on their domestic merchants over international ones as each progresses.
What is even more fascinating at this present juncture is that they are under the age of 25. That is surprising because it may seem as if the youth and older individuals would prefer to purchase from abroad to stay in line with different cultural trends. But it seems as if the cultural trend is in favor of the domestic merchant over the international ones.