Chinese character Win

08

Nov
2016

Shopper Bonanza

Posted By : admin/ 1635 0

When the result of Brexit vote was broadcasted, my WeChat popped out several messages from Shanghai: “UK decided out off Europe, what’s going to happen to the Chinese?”

 

“What is it likely if we are going shopping”…. People there are only interested in the values of their shopping British brands. Is it going to be cheap or be expensive? Minutes later afterwards, pound fell.

Apart from the plush high street retailers the big British brands opt in China, Shoppers in China do a lot online shopping. From the biggest Chinese online platform Alibaba (the Chinese equivalent to Ebay), they can buy thousands and thousands of consumer goods, millions of Alibaba’s online retailers (or small vendors) act as agencies to sell the British goods to Chinese. Those middlemen take handsome cuts for their labours. On Alibaba, you can find the stuff from M&S, Asos, Top Shop, Neal’s Yard… I was once shown some stuff, supposed to be British, which I have not come across in the UK.

The Chinese online shoppers are urban, relatively younger and audacious to go for anything foreign if it is a big attraction. The Chinese have to pay hefty import and consumption tax for the imports, but the scene is gradually easing in the recent years. However, the demand is still there. Some of the UK retailers have liaised with Alibaba, the products which bear their name can be sold directly to the consumers there, this can ensure the authenticity of the goods, a nice way to protect the brands.

Last year, the revenue on the Single’s day (Nov 11th 2015) for Alibaba was US$14.3bn, shoppers went crazy, it finished at US$170bn this year. Plenty of retailers (online middlemen) took the advantage and worked overnight at this Chinese black Friday then high-fived toast after the following dawn. .

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