Where are people buying into social buying?

China’s wallets have gone mobile

Sustainability is increasingly top of mind for consumers in China. Many are making lifestyle changes to address the issue, spurred by the country’s many environmental catastrophes, as well as the government’s recent pledge to reduce emissions. And more than ever, shoppers expect brands to offer products and services with eco-friendliness in mind—and for the right price.

Many of the national and regional rankings for retail ecommerce sales and growth have changed little since 2020.

China could be ready to launch the digital yuan in early 2022, and India is building a CBDC framework while also warming up to Bitcoin.

The top 5 countries for mobile gaming revenues

Creator economy crescendo: Amazon is quickly building out areas of its business that center on influencers, as the walls between social media and ecommerce erode and creators' roles in those spaces start to blend together.

China’s second-largest annual shopping festival broke records last month, generating more sales and attracting more brands than ever before. Held each year around June 18, the 618 promotional event is still smaller than Singles’ Day, but its rising scale reflects a growing appetite for a midyear alternative to the November ecommerce extravaganza.

China continues to lead the world in all things ecommerce, including innovation. Social commerce livestreaming is just one of many new stories for 2021 and beyond.

China’s $315 billion social commerce lead

The pandemic was disastrous for many retailers; we estimate that total retail sales worldwide plunged 2.8% in 2020. Though, while many physical stores were shuttered, digital retail sales soared by over 25% in a single year.

Social commerce sales in the US are picking up, but the size of the market pales in comparison to that of China, according to eMarketer’s latest forecast on social commerce.

Though virtually unknown outside of China, a new crop of local direct-to-consumer brands are making a name for themselves at home—and even outperforming some of the major foreign players.

Livestreaming was an existing trend that gained newfound relevance during the pandemic. Over the past few months, nearly all of the major US social networks have expanded their services and introduced new livestreaming opportunities, many of which are aimed at boosting commerce on the platforms.

NTWRK pushes live shopping in the US: The livestream-centric mobile marketplace is competing with giants like Amazon and Facebook as US companies emulate China and struggle to succeed in the fledgeling livestreaming ecommerce space.

Social commerce is rising rapidly worldwide. But to what extent can the US market mirror that of China, the world leader in social commerce?

Top 10 countries for ecommerce growth

Livestreaming ecommerce—a market-like online shopping experience that feels like an amalgamation of the Home Shopping Network (HSN), game shows, talk shows, and auctions—has taken China by storm. The phenomenon was in part fueled by the pandemic, as brick-and-mortar stores temporarily closed down and consumers sheltered in place. Yet, a year later, livestream shopping is still going strong in the country.