Mailman X Business Weekly | March 29th
Here is China’s top tourism business news that you need to know from this week:
WeChat pay brings its ecosystem to the world
According to the latest data released at the conference, in 2018, the monthly average transaction volume saw an increase of 500% year-on-year, while the total transaction value increased 400%. Meanwhile, the number of service providers witnessed a year-on-year increase of 300%, and the number of merchants accepting WeChat Pay increased 700%. WeChat Pay is now available in 49 markets outside of the Chinese mainland, supporting cross-border payment transactions in 16 currencies. Read more here.
WeChat pay continues to be a key driver, in digital payment technology for Chinese Netizens. It is becoming more of the “expected” way to transact in China and Chinese travelers are looking to be able to pay with the systems they are used to at home. WeChat is different from the simple mobile payment it brings “experience” into the hands of the consumer, blurring the lines from online to offline. WeChat and WeChat pay is increasingly becoming a way of life in China. It is important for destinations, retailers, hotels, attractions to understand more than the desire for an easy transaction experience but also how it’s making everyday life and everyday experiences frictionless.
Also this week:
Airlines Swoop on China’s tier 3 and 4 cities
Civil airports in China’s third- and fourth-tier cities saw passenger numbers climb more than 20 percent last year, double the rate of increase for hubs in the first- and second-tier urban centers. Read more here.
AI, Big Data to bring more jobs to China
The report also showed that an increasing number of firms in China are attaching greater importance to the candidate’s data analysis capacity. Mark Tibbatts, managing director of Michael Page Greater China, said because many firms are basing their decision making on data, they have shown a growing demand for talent in data analysis and strategic communication. Read more here.
Meet Judy Liu: China’s Luxury Brand Industry Game-Changer
Judy Liu has used her love of fashion and technology to propel China’s luxury brand industry to new levels of tech innovation and consumer influence. Liu is the Managing Director of Greater China of Farfetch, a global technology platform connecting consumers with various fashion boutiques, brands, and department stores. Read more here.
Marketers have an eye on the middle class
Global brands and marketers see great marketing potential in China with its fast-growing middle class and a booming number of internet users, marketing professionals said at a gathering held on Tuesday in New York. “It’s really hard to claim you are a global company without having a meaningful presence in China,” said Jeff Green, CEO, and founder of U.S. advertising company The Trade Desk, at a panel titled Reaching the Right Audience in China. Read more here.
E-commerce Payment Market by 2019
E-commerce Payment is a transaction of buying or selling online. In comparison with last year, China’s e-commerce market grew significantly faster than the one in the US. Compared to 2016, Chinese e-commerce sales grew by 27.2%, while in the US it grew by 8.99 %. For 2017 as well, the Chinese E-commerce market is expected to increase much faster than the American one (24% vs. 9%). Read more here.
The global battle for internet is starting
Look at high levels of tech investment by China in India and Africa, the prospect of Alibaba butting heads with Amazon, or the international competition between Uber and its Chinese equivalent Didi, and you get a flavor of the future – particularly when it comes to China’s mastery of mobile payment systems, which leaves most western countries standing. Read more here.
China’s Digital Trademark Regime: How to protect your brand in mainland China
the company Samsung had been talking to were Supreme Italia, which hold product retail and marketing authorization in the Asia-Pacific region, except in Japan. The original company based in New York had already run into trademark disputes with the Italian brand in other jurisdictions. Well-known brands often don’t need to register their trademarks, but China’s laws follow a first-to-file system. It also does not recognize trademarks registered in other jurisdictions. Moreover, in this specific case, the name ‘supreme’ being a descriptor complicated the situation – since the 1990s, over a hundred applicants, have filed for trademarks using the name ‘supreme’ in China. Read more here.
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