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ocial Media and New Age marketing for university students in China - Literature review Example
Author : hoseaschaden
Pages 18 (4518 words)
Social Media and New Age Marketing for University Students in China (Literature Review) 1. Introduction Latest reports estimate that China is bound to become “the world’s E-commerce superpower”, hosting the world’s “largest online commerce market” (Salans 2012, p…
There has been a 462% increase in the number of internet users within a matter of seven years, i.e. from 2004-2011 (China Internet Network Information Center 2012). High-speed internet is easily accessible at subsidized rates in China, thereby enabling easy penetration of the Internet throughout the country. Secondly, the number of users who shop online is also experiencing a remarkable increase. While less than 10% of the Chinese population shopped online in 2006, by 2015 the online shopping population is expected to increase to 44%, four times the current figure (Salans 2012). The total number of Chinese users who shop online would increase from the present figure of 160 million to 231 million by 2013 and 329 million by 2015 (EU SME Center 2012; Salans 2012). Online shopping in China is becoming popular because third party payment systems like Alipay and platforms like Taobao are making Chinese consumers more comfortable with spending online (EU SME Center 2012). The Chinese government is also playing an active role in the growth and expansion of E-commerce. The Ministry of Commerce (MOC) of China aims at driving more than 80% of China’s large enterprises into adopting E-commerce (Salans 2012). Online shopping is becoming increasingly popular and businesses are leaving no stone unturned in their bid to tap into this opportunity. ...