WPIC CEO on China's 618 Shopping Festival

The video discusses the impact of COVID-19 lockdowns on consumer sentiment and shopping trends, highlighting a shift from revenge spending to necessity purchases. It notes the resilience of online shopping, especially in appliances and food delivery, and the growth in health and wellness sectors. The rise of social commerce in China is also explored, with a shift from major live streamers to a broader range of influencers, making it easier for brands to engage with consumers.

What is the expected growth rate for the biggest shopping event in China compared to previous years?

• 30% growth as in previous years

• No growth expected

• Slightly less than 30% growth

• More than 50% growth

Which sector has seen a significant increase in online pre-sales compared to last year?

• Entertainment venues

• Appliances

• Apparel

• Travel and luxury

How has consumer behavior shifted in terms of purchasing appliances?

• Appliances are no longer in demand

• There is a 250% increase in online pre-sales of appliances

• Appliances are now primarily purchased offline

• Appliances are only purchased during sales events

What is a major change in the social commerce landscape in China?

• Decrease in the number of influencers

• Concentration of influence among three major streamers

• Diversification of platforms and influencers

• Decline in direct-to-consumer sales

How has the shift in social commerce affected brands?

• Reduced need for influencer marketing

• Increased competition for limited slots

• Higher barriers to entry

• Easier access to consumer engagement