As the world’s largest eCommerce market, China represents a huge opportunity for Australian businesses to successfully navigate the most advanced digital economy in the world.
To promote its vitamin business Blackmores took out a giant advertisement in New York’s Times Square.
Although the company did not sell its products in the USA, Blackmores tactic was to generate traffic on Chinese social media.
Its target was Chinese eCommerce giant Alibaba’s huge 11 November sale – known more widely as Singles Day.
Blackmore was looking to push sales through its stores on Alibaba’s Tmall and Small Global marketplaces.
Its big marketing investment paid off. The company surpassed its entire 2016 Singles’ Day sales figure in just over two hours.
The Victorian Government has recognised the importance of the ecommerce market and China in particular through the development of the Honorary Business Ambassador program.
This program enlists high-performing business leaders with a strong connection to Victoria to assist in promoting Victoria’s trade and investment agenda.
Maggie Zhou, Australia and New Zealand Managing Director of Alibaba Group, will be the first Victorian Business Ambassador.
This year 63 Australian merchants representing 252 brands, participated in Alibaba’s 11 November shopping festival.
Australia ranked as the third highest selling country behind the United States and Japan. Last year, Australia ranked fourth, and fifth in 2015.
Although Alibaba doesn’t reveal how much money Aussie brands made this year, the value of products from bought Australia was up 127 per cent, year-on-year.
The China market leads the world when it comes to digital engagement and companies need a brand strategy that constantly evolves.
The sheer scale of the market, advances in fintech, internet penetration and fierce competition to please consumers sets the digital economy in China apart from the rest of the world.
The Chinese are also obsessed with consumer convenience.