How China is changing the future of shopping

As part of reading week I watched this really interesting Ted Talks by Angela Wang who is a retail expert works with a broad range of clients in China on strategy formulation, business development and operational excellence.

A few things I learnt from this...

1. e-commerce in china is growing at double the rate of the US and Europe with 500 million monthly consumers making purchases on their mobile phones alone.

2. "spontaneity' is greatly influencing fashion buying trends. For example 5 years ago the average person bought 5-8 pairs of shoes a year, last year in 2018 this rose dramatically to 25 pairs of shoes!

3. Convenience is crucial to secure a sale, for example customers do not like to be queuing in a store waiting to pay! I can admit this is a huge one for me, if i'm in a store buying something I maybe don't necessarily need, if i then have to queue to pay this is a huge deal breaker, and I will more than likely put the item down and leave! This is such a bad habit but I think this is hugely important for retailers to understand. I think this links really tightly with the 'spontaneity' purchases. Impulsive buys have to be quick and too the point, if I have to wait around queueing it no longer feels impulsive (and you realise the guilt and don't want to but it anymore!)

4. offering online shopping is more effective than offering a loyalty programme!

5. In china they have 24/7 customer service who are able to help you online, offering anything from personal shopping to just telling jokes - this in china makes shopping a social experience and is then encouraged because they like the service.

6. quick delivery improves life efficiency - whether thats having something delivered for work or a last minute present for a family member you forgot about! Knowing you can get something delivered to your door in less that 24 hours relieves stress.

7. Japan have moved out of the times of extremely high and fast consumerism to focusing on non-consumerism, which they call it minimalism. A motto of quality over quantity. This is a way of shopping that is better for the environment with reduced packaging and less demand to have products now.

In a world that seems so obsessed with having the newest item as quick as possible id be really interested to see what it's like in Japan, and if we in Europe, or the rest of the world, will ever adopt this time of consumerism?!