[eMarketer] 5 digital trends in China to watch in 2021

[eMarketer] 5 digital trends in China to watch in 2021

12-01-2021 08:40:00 | Door: Bas Vlugt | Hits: 1113 | Tags:

Despite 2020 being a tough year for China and the world with the outbreak of COVID-19, China is looking at 2021 with optimism as next generation technology and mass rollout of coronavirus vaccine return the world to normalcy.

eMarketer has published an article about digital trends in China to watch in 2021.

Digital consumption boom to continue

The outbreak of the novel coronavirus has become a silver lining for e-commerce in China, bolstering emergence of first timers in online shopping and heralding new and unique shopping trends.

Even with relaxation of travel and movement restrictions, e-commerce shops and online services are set to experience a boom. Emarketer predicts that China’s retail e-commerce sales will jump to 21.0 per cent in 2021, compared to 4.0 per cent growth in cumulative retail sales.

Livestreaming is bound to benefit from travel, hospitality and financial services sectors as the roll out of COVID-19 vaccines get underway.

Total Retail* vs. Retail Ecommerce** Sales Growth in China, 2020-2024 (% change)

5G wave continues

China has not allowed the COVID-19 pandemic and the US trade wars interfere with its 5G rollout. Having built over 700,000 5G base stations by Mid-November last year and surpassing its 2020 target, the country is betting on this next generation technology this year to take its communication to the next level.

Digital currency for financial inclusion

China’s is counting on the digital currency, Digital Currency Electronic Payment, DCEP, issued by the Central Bank to deepen financial inclusion and boost digital economy.

Virtual avatars to redefine marketing

As marketers look at new and innovative ways of interacting with customers, buoyed by new age technologies like 5G, interaction is set to move to the next level with virtual avatars becoming commonplace.

Government’s regulation on tech giants

Even as China prides itself as a tech behemoth, recent years have seen government tighten regulation on the telcos especially on the areas of antitrust law. Government control is expected to continue in 2021.

Read the full eMarketer article here


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