September 28th, 2019
New media: Since last year, short video platforms like Kuaishou (快手) and TikTok (抖音) have become a must-have item for the young generation in China. Many young people spend hours on a short video and live streaming every day. These platforms become the new media for brands to put advertisements.
New channels: Traditional big e-commerce platforms, such as Baidu, Taobao, and Jingdong, are gradually losing their competitiveness. New channels like Yunji (云集), Pinduoduo (拼多多), Xiaohongshu (小红书) are emerging. Media like Kuaishou and TikTok can act as an e-commerce channel simultaneously.
New products: Consumers in China are becoming more mature as their living standards improved. People are more rational on consumption and expect to have a commodity with quality instead of blindly buying high-priced goods. Thus, in the wave of new consumption in China, brands need to also provide products with good quality despite the help of new media and channels.