China’s retail e-commerce sales are set to grow by 27 per cent in 2019, says market research firm eMarketer. These days, retail growth in China is occurring online and on mobile. Chinese consumers are purchasing goods online, even some big-ticket luxury products. With the newest technologies like augmented reality and virtual reality and data analytics tools in place, e-commerce companies are providing advanced retail solutions to completely alter the way that luxury, fashion, and beauty retailers serve customers.
Prada has formed a partnership with JD.com and Secoo, a specialty luxury e-tailer. Burberry has been operating on Alibaba’s Tmall marketplace for over five years now. A handful of high-end beauty brands from Estee Lauder, Lancôme, La Mer to Givenchy Beauty are benefiting from Alibaba’s retail solutions to spur sales in China, while Chanel Beauty will launch an official flagship store with Tmall.
Another significant retail trend booming in China is the convergence of e-commerce and social media. For the luxury and fashion industries that traditionally places an emphasis on content marketing. But a majority of the purchases will still be made in brick-and-mortar in the foreseeable future. So an omnichannel strategy augmented by technology is essential, especially in China.
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