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2021 Q3 Report Combined MEGA GUIDE: CHINA E-COMMERCE AND DIGITAL MARKETING Q3 2021 2021 Q3 E : [email protected] W : www.chozan.co W : www.alarice.com.hk 2 HELLO! In Q3 of 2021 China’s digital space was retransformed by new regulations, rules and consumers demands. While China’s major economic indicators keep showing positive growth, Covid-19 caused shifts in consumers behaviour towards which companies need to keep close attention to. In this report ChoZan team monitor latest insights in Q3 of 2021 to help companies identify new opportunities and act on it. You’ll also find opinion of over 50 China experts about China’s economy, modern Chinese consumers, e-commerce, social media and New Retail. A big thanks to all of them. Let's go get them! Ashley Galina Dudarenok Founder, Alarice and ChoZan, LinkedIn Top Voice Follow my LinkedIn for daily China insights Sign up to my bi-weekly China Digest https://chozan.co/ https://alarice.com.hk/ https://ashleydudarenok.com/ E : [email protected] W : www.chozan.co W : www.alarice.com.hk 3 CONTENTS 1. OVERVIEW 05 5. NEW CONSUMPTION 237 Weibo 412 China's Digital Economy 06 Douyin 421 Overview of Digital China 35 5. KEY CONSUMPTION ECONOMIES 251 RED 440 Bilibili 464 2. KEY CHINA TRENDS 53 6. E-COMMERCE 272 Zhihu 483 Overview 273 Kuaishou 508 3. CONSUMER INSIGHTS 62 Alibaba 294 Weitao 528 China’s Consumers Overview 63 JD.com 306 Toutiao 539 Millennials 70 Pinduoduo 311 Baidu 563 Gen Z 78 Kuaishou 320 The Silver-haired Generation 97 9. Q2 MARKETING CALENDAR 578 Chinese Men 117 7. ONLINE SHOPPING FESTIVALS 327 Female Internet Users 128 Double 5 331 10. KOL INSIGHTS 597 Super Mums & Dads 143 618 335 China’s Pet Lovers 161 Double 11 356 11. CHINA MARKET ENTRY 612 Lower Tier City Young People 175 Chinese New Year 368 Happy Singles 189 12. MARKETING INDUSTRY ADVICE 631 8. SOCIAL MEDIA 376 4. EMERGING CONSUMER GROUPS 200 WeChat 393 13. ABOUT US 684 E : [email protected] W : www.chozan.co W : www.alarice.com.hk 4 OUR CHINA MARKETING SOLUTIONS MARKETING RESEARCH AND STRATEGY CORPORATE TRAINING CHINA MARKETING VIDEO COURSES An 8-module masterclass available to anyone with an internet Our China marketing research and strategy team gives you a We can increase your expertise on the Chinese market, connection to get them up to speed on China’s market, its detailed framework that will allow you to start and grow your Chinese consumers and Chinese social media with tailor-made modern consumers and Chinese social media marketing and business in mainland China. masterclasses that put your team at the forefront. We do this by running courses around the world that you can join and selling. creating corporate training programs for your team. SOCIAL MEDIA MARKETING CHINA INSIGHTS: CHINA MARKETING CRICLE BOOKS AND MARKETING GUIDES The most comprehensive books on the market about China’s We help you to localize messages, strengthen your brand A private community on WhatsApp / WeChat that delivers the e-commerce landscape, Chinese social media influencers and image and reach out to target audiences through Chinese most relevant, up to the minute information, much of which New Retail. You can also buy our highly detailed WeChat and social media. can’t be easily found online or in English. Join us if you’re looking for curated insights, trends, strategies and case Weibo guidebooks to gain confidence with China’s two most studies. powerful social apps. INFLUENCER MARKETING AND CAMPAIGNS KEYNOTE SPEECHES We help you to establish goal-specific social marketing Our founder, Ashley, is a well-known speaker and can deliver campaigns and fruitful collaboration with Chinese KOLs and keynotes full of energy, insight and inspiration that will influencers. transform your event, motivate you and help you achieve your goals. GOT A QUESTION? DROP US AN EMAIL BY CONSULTING CALLS SCANNING THE QR CODE The quickest way to get your specific, urgent China marketing questions answered. Speak with Ashley or her team if you’re under time pressure and need to get on the right track fast. E : [email protected] W : www.chozan.co W : www.alarice.com.hk 5 AN OVERVIEW OF CHINA'S ECONOMY INTRODUCTION E : [email protected] W : www.chozan.co W : www.alarice.com.hk 6 Q: WHAT ARE THE MOST IMPORTANT CHANGES THAT EXPERT BITES HAPPENED IN CHINA IN Q2? Q2 2021 has been marked by a variety of important events, showing shifts in economy, policy, demographics and consumers’ mindset. China has published their 7th census, whose findings have directed the Chinese government in introducing the three child policy. New goals have been set in the 14th Five-Year Plan. It’s expected that China will achieve 10% from the digital economy for economic output and by 2035 become one of the leading countries of innovation. There also will be more efforts put in to achieve a low carbon economy. In terms of consumption, lower-tier markets will be further stimulated through e-commerce. China’s digital space is going through the process of establishing clear market regulation rules. Companies need to be prepared for review before filing for IPO in the US. Also we observe a tendency for Chinese consumers to expect businesses to practise social responsibility. A good example is the recent flood in Henan and the donation from Chinese sports brand Erke, shooting it to a national hero status and rewarding it with a 52 times jump in sales. ASHLEY DUDARENOK GOT A QUESTION? DROP ASHLEY AN Founder of Alarice and ChoZan EMAIL BY SCANNING THE QR CODE LinkedIn Top Voice & 3x best-selling author E : [email protected] W : www.chozan.co W : www.alarice.com.hk 7 OVERVIEW CHINA'S ECONOMY CHINA’S QUARTERLY AND YEARLY GDP GROWTH 18.3% Quarterly Yearly China’s economy is recovering quickly and the 8% GDP is expected to grow 8% in 2021 7.9% 6.5% 4.9% 3.2% ESTIMATION -6.8% 2020 Q1 2020 Q2 2020 Q3 2020 Q4 2021 Q1 2021 Q2 2021 Source:KPMG, China's Economic Monitor Q3 2021 E : [email protected] W : www.chozan.co W : www.alarice.com.hk 8 OVERVIEW ECONOMIC PROPORTIONS IN CHINA ECONOMIC PROPORTIONS OF THE FOUR REGIONS OF CHINA 5% 9.9% 8.6% 8.6% 8% 21.1% 17.5% 17.1% 18.6% 20.1% 18.8% More than half of China’s economic 19.2% 19.7% 20.3% 22% proportion goes to the Eastern part of China. 53.4% 55.5% 53.1% 51.6% 51.9% 2000 2005 2010 2015 2020 Eastern Central Western North-eastern Source: KPMG, The 14th Five-Year Plan: Macro Trends and Opportunities E : [email protected] W : www.chozan.co W : www.alarice.com.hk 9 OVERVIEW CHINA DIGITAL SPACE AT GLANCE DEGREE OF URBANISATION IN CHINA, 1980-2020 63.9% 59.6% 60.6% 57.4% According to the Seventh Population Census 54.8% 56.1% 52.6% conducted in 2020, about 63.9% of the total 50.0% population in China lived in cities that same year. 43.0% The urbanisation rate has increased steadily in 36.2% 29.0% China over the last decades. 26.4% 23.7% 19.4% 1980 1985 1990 1995 2000 2005 2010 2012 2014 2015 2016 2018 2019 2020* Source: PWC,China Economic Quarterly Q1 2021, Statista E : [email protected] W : www.chozan.co W : www.alarice.com.hk 10 OVERVIEW CHINA’S ECONOMIC GROWTH ECONOMIC GROWTH WITHIN INDUSTRIES 6.6% 5% Domestic product gross 5.5% 5.3% 2017-2019 6.2% 2021 Q1 6.8% Industrial added value 6.6% 2021 Q2 7% 2021 H1 9% 4.1% Total retail sales of consumer goods 4.6% 4.4% 6.2% 2.7% Fixed asset investment 5.6% Import and export goods increased the most 4.5% 6.1% between 2017-2021. 13.4% Export value 14.2% 13.8% 9.8% 11.7% Import Value 13.9% 12.8% 6.5% 4.5% Average disposable income 7.5% 5.1% 5.8% 3.2% Fiscal revenue 5.2% 4.2% 8.2% 0.1% Fiscal expenditures -1.5% -0.8% Source: KMPG, 2021 Q3 China Economic Monitor E : [email protected] W : www.chozan.co W : www.alarice.com.hk 11 OVERVIEW GROWTH OF EXPORTED AND IMPORTED GOODS (US BILLIONS) IMPORT AND EXPORTS 50 40 30 20 10 0 GOODS -10 The growth of China exported/imported goods have -20 increased significantly comparing to global imported/ -30 exported good, reaching almost US$50 billion. 2018 2019 2020 2021 Global Export Global Import China Export GROWTH OF SERVICE EXPORTS AND IMPORTS (US BILLIONS) China Import SERVICES 30 The growth of China’s service exports has surpassed global service exports/imports, reaching more than 20 US$20 billion. 10 0 -10 -20 -30 -40 2018 2019 2020 2021 E : [email protected] W : www.chozan.co W : www.alarice.com.hk 12 OVERVIEW CONSUMER GOODS AND CATERING SERVICES With the quarantine measures further loosened, the labour market continues to improve and people are regaining their jobs, which increases the average disposable income. This also leads to the rebound of service consumption and catering services in Q1 2021, exceeding the monthly sales before Covid-19 hit in 2020. GROWTH OF CONSUMPTION EXPENDITURE AND GROWTH OF GOODS AND CATERING SALES (MONTHLY YOY) DISPOSABLE INCOME PER CAPITA (YOY %) 91.6% 20 68.9% 15 10 5 30.7% 29.9% 4.8% 5.8% 5.2% -0.8% -0.2% 0.2% 1.5% 4.1% 0 -4.6% -12.0% 0.8% -0.6% 0.4% Consumption expenditure -7% -2.9% -5 -15.2% -11% Disposable income -10 -31.1% Goods Catering -15 -46.8% 2014 2015 2016 2017 2018 2019 2020 2021 Mar Apr May June July Aug Sep Oct Nov Dec Jan-Feb Mar 2020 2021 Source: KPMG, China Economic Monitor Q2 2021 & China Government E : [email protected] W : www.chozan.co W : www.alarice.com.hk 13 OVERVIEW CHINA'S ECONOMY 2021 Q2 CHINA NEW ECONOMY TOP INVESTMENT INDUSTRIES (IN BILLIONS) 24.04 22.08 110 Number of Investments 104 14.44 13.72 Billion RMB 11.43 8.66 7.12 5.51 67 65 5.05 3.78 24 22 11 11 7 5 Biomedical Intergrated Food Med.
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