As compared to the developed West, which seems to be static, China appears to be more welcoming and accepting of change and dynamism, especially in the Digital space. This is evident from the fact that revolutionary ideas are being adopted in developing many applications and tools, all at a surprisingly fast pace.
M-commerce and e-commerce are exploding in China
WeChat, for example, promoted by Tencent Corporation, this app acquired huge reputation as a micro messaging app within a very short span of time with its innovative and revolutionary ideas, and a broad range of options. Apart from the ability to integrate with Tencent’s TVs, the app, also offered a payment system called Tenpay, to facilitate social m-commerce, and e-commerce.
Analysts believe such radical ideas can flourish in a huge market, especially, only if the businesses and consumers in such a market have the imagination and commitment to embrace these radical ideas. A point to prove in this case, WeChat which is available in English and for all platforms, of smartphones, recently tied up with Didi Dache, China’s biggest taxi services operator, customers have the option to send out details of their journey to the taxi drivers in the area.
Online taxi services thrive in China
This offered the most convenient way to book taxis. It was estimated that about 100,000 taxis offered their services using this option within the first 10 days of its launch. On the very first day, services were offered only in Beijing on iOS, an estimated 20,000 bookings were done and these taxis were paid using Tenpay. Later, the program was offered in many other cities and the number of bookings stood at 27,000, 36,000 and 38,000 in three days from January 10-12.
This is an indication of how radical changes in the digital space are warmly received by consumers in China, and also demonstrates how technology can benefit the marketing and logistics’ to bring more convenience to consumers.
WeChat, also identified huge potential to market and promote its service here, various incentives are being offered ranging from bonus to taxi drivers, in the range of RMB 10 – 90pence for those using this system, to discounts’ and free journeys to consumers, about 10,000 free journeys are sponsored by WeChat every day.
Managing your personal finances from your Wechat
Another innovative idea from WeChat is in the personal finance department. Members using the “wealth” section can save directly into their savings bank, using their smartphone’s Tenpay option, this feature is backed by Huaxia Bank. One can start with any minimum amount to a maximum of £100,000, such savings would earn an annual interest rate of 6.435 percent.
And so many more innovative ideas!
Many such revolutionary ideas are in the testing stages, with most of them showing positive test results. For example an option to buy from vending machines has shown positive test results, and may be soon available for consumers’.
This surprisingly fast pace of developments, and their warm reception by consumers in China is supported by the infrastructure, as well. Internet connectivity and 3G are available everywhere in China’s tier one cities (Shanghai and Hong Kong leading the way); there are very few remote areas in these cities where you do not have a proper mobile signal. At the same time, the number of people using smart phones to Pcs, landlines to mobiles has been on the rise.
Finally, social media has a huge impact on the consumers. This will have an impact on the buying patterns of consumers, as people tend to buy more when a brand or product is recommended by their friends, co-workers etc and a social network is perfect for that kind of exchange.
As businesses fight it out for consumers’ attention digital marketers have an exciting and demanding task at hand, with developments happening at an exponential rate in the digital media.