COVID-19, e-commerce and the rise of new retail in China
The lockdowns implemented during the COVID-19 pandemic have led to new business trends and consumer habits emerging around the world. With many businesses facing economic hardship, a rapid boost in demand for e-commerce has helped keep companies afloat and national economies moving. With billions confined to their homes, consumers have become increasingly reliant on online shopping, and while this has led to increased demand globally, e-commerce platforms and trends throughout China have also undergone a period of accelerated innovation.
Even before the lockdowns, China’s e-commerce landscape was experiencing radical change, with social buying and live commerce becoming increasingly commonplace. These practices – where buyers can group together to enjoy larger reductions and access limited-time discounts advertised via live-streams respectively – reflect the evolving and expanding services driving a new era of online consumption in China. Despite these changes, however, similar innovation has been slow to take hold in other locked-down countries.
This webinar, organised in partnership with the Chinese tech information platform TechNode, will explore whether the changing retail habits resulting from the current crisis will emerge as the ‘new normal’ after the COVID-19 pandemic, and whether the trends that are reshaping China’s booming e-commerce sector will pave the way for Western and other markets. Finally, as many countries come back online after extended periods of lockdown, this event will assess role of e-commerce and the digital economy in kick-start struggling economies and defining the future of retail.
Gang Lu, Founder and CEO, TechNode
Jeongmin Seong, Partner, McKinsey Global Institute
To register interest in this event, please contact Edward Danks on firstname.lastname@example.org.
The webinar is being held as part of an ongoing series of digital events amid the coronavirus pandemic featuring senior officials in Asia.