E-commerce is the new upcoming trend in business that shapes the economies of the countries that it takes place. With electronic funds transfer, you can order your goods and pay for them online.
Statistics show that china's e-commerce market is the largest in the world. Its economy is thriving very well due to different consumers worldwide showing an excellent preference for their services. Venturing into China's e-commerce market requires you to understand different basics. Below are the basics that you need to understand about china's e-commerce.
Legal requirements
Businesses cannot thrive without rules and regulations. Before you enter China's e-commerce market, you must be conversant with the laws that govern its businesses. China's decision to block your business is irreversible.
Some of the regulations include; ICP license, company incorporation, Prohibition of Daigou, intellectual property protections, and new regulatory protections. For detailed information about these regulations and other China-specific information, you can find a guide on How to do business in China. WPIC is one of the leading marketing and technology partners for the businesses that are planning to venture into the Chinese market.
Operation of host platforms
It would help if you considered the basics of where to host your e-commerce business. The country has an internet censorship program called the great firewall. It works by blocking access to selected foreign websites and slowing down cross-border internet traffic.
As stated in the first tip, an ICP license would be the best solution for your website. If you feel that the ICP isn't the best choice for you, try hosting your site in another country. The performance of your website will also be slow compared to the ones hosted in that country.
Selecting the right sales platform
The established e-commerce system offers different sales platforms that are licensed. You can choose which platform to use depending on your preference or the type of goods and services you would like to offer. Your target market and your budget also determine your success in using the platforms.
The platform could be a new standalone website, an intermediary in China or another established platform. It's incredible how online malls operate. TMall and Suning Global are among the best online malls that you can use. They include organic traffic and support for sales. These platforms provide a type of virtual mall for a range of e-commerce businesses.
Learn Chinese marketing strategies
After learning the best platforms, you also need to learn about their marketing strategy. It involves integrating several aspects for your business to adapt to the local Chinese market. Several factors are considered in this case, but the greatest one is consumer habits. It's a vital strategy for the survival of your e-commerce business.
Understand the existing selling propositions to help you determine the price you will offer for your products. The consumption rate differs with different brands of the Chinese domestic market. You may enjoy the benefit of a variety of foods that the Chinese community consumes.
Agency basics
Due to the extensive planning and market research, you may need to hire a Chinese agency to assist you in operating your business. It helps in solving additional problems such as language barrier and different market dynamics. Also, complying with new Chinese regulations may be challenging initially, and failure to comply with those laws may lead to business closure.
You, therefore, have to learn about different agencies found in the Chinese e-commerce market. They perform different specialized tasks but there are more experienced agencies that can handle a wide range of issues and WPIC.co leads the pack by a long margin.