Fintech & Ecommerce

Apple Launches Online Store on China’s WeChat App

Apple has launched an online store in the Chinese WeChat app.

Apple Launches Online Store on China’s WeChat App

The relevant information was reported by the mentioned Chinese virtual platform, which is part of the ownership structure of Tencent, on Tuesday, July 11. The technology giant has launched a digital store in the app using WeChat mini-programs, which are software products of limited scale of operation that provide services in the field of e-commerce, the financial sector, and logistics.

On the Chinese virtual platform, the American company will sell its products, including iPhone, iPad, Apple Watch, and Mac. The media reports that the tech giant also has a digital store on the Tmall e-commerce platform, which competes with Tencent and is managed by Alibaba.

For Apple, the Chinese market is one of the most significant outside the United States. Data from the research company Counterpoint indicate that by the end of last year in China, the first three positions in the list of the best-selling smartphones were occupied by devices of the iPhone 13 series line.

In the first quarter of this year, the Chinese smartphone market showed negative sales dynamics. But against this background, the technology giant managed to maintain a leading position. Currently, Apple’s share in the Chinese smartphone market is 20%. This result is 2% higher than the same indicator recorded a year earlier.

At the same time, Apple does not seek to develop production facilities in China. The technology giant is making efforts to move factories to produce its products outside of this country. These actions are carried out as part of a strategy to diversify supply sources. Last year, JP Morgan analysts reported that the tech giant plans to move 25% of iPhone production to India and 20% of iPad and Apple Watch production to Vietnam by 2025.

Apple has also joined the so-called frenzy of live broadcasts, which is a catalyst for the development of e-commerce in the Chinese market. The online show of the tech giant, organized by product experts, in May in China gathered more than 300 thousand likes and more than 1.3 million viewers within an hour. The audience of this show learned how to make movies using an iPhone and received information about using the Apple Watch as an auxiliary device for training.

Apple’s decision to join live broadcasts is a confirmation that this virtual activity sector is currently at the stage of accelerated development in China. Live coverages have already become a kind of model of mass sales with the help of large discounts. Major brands are striving to ensure their presence in the digital commerce segment.

Shining Li, vice president of the Romamo live broadcast agency, says that many companies are optimistic and open-minded about live coverage as a channel of commercial action. He noted that this virtual format is an important sales and communication tool.

Live broadcasts have already become a kind of separate segment of the global commercial space. Some channels of virtual interaction with the audience have a limited scale, but they are targeted and can be effectively converted.

As we have reported earlier, Apple Purges Predatory Lending Apps in India.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.