E-commerce firm Shein from Nanjing has been operating much under the radar, until last week it last week came with plans of an IPO in New York with a valuation of US$47 billion. E-commerce expert Matthew Brennan, author of “Attention Factory: The Story of Tiktok and China’s Bytedance” explains at Yahoo Finance what Shein has been doing right.
China internet guru Matthew Brennan summarizes his bestseller Attention Factory: The Story of Tiktok and China’s Bytedance and explains how Tiktok developed from a successful domestic tool for millennials into a short-video platform that even caught the attention from US President Donald Trump.
A hidden problem in China are the 70 million children in the countryside, left behind by their migrant parents who left to work elsewhere in de big cities, says author Zhang Lijia in an interview with the Borgen Project. Many drop out of school and those who remain face dropping quality of their education. Zhang Lijia is currently working on a book on left-behind children (LBC’s).
The coronavirus crisis has hit China’s economy and its graduates face a rough time for at least a year, as they are looking for jobs now, says financial analyst Sara Hsu, a visiting scholar at Shanghai’s Fudan University to CGTN. Job creation has come to a stand-still, and graduates might rely on finding jobs at state-owned companies, the government or even the military to survive in the coming year, she says.
Brands focus too much on social media platforms and generic influencers, and forget often they need to get closer to their customers, says marketing expert Arnold Ma in the McKinsey Report on the 2020 State of Fashion. In China and the rest of Asia consumers are faster to adopt new trends and increasingly guinea pigs for Western brands.