Image credit: CTF
Chow Tai Fook (CTF) built a smart retail ecosystem that focused on physical stores, supported by online sales and enabled by tool applications, and featuring O2O interaction for attracting customers. In addition to traditional e-commerce platforms such as online flagship stores, Tmall, JD.com etc., CTF promoted online and offline, CloudSales 365 and Cloud Kiosk, which increased its year-on-year growth rate to 67.1% in e-commerce, and 12.0% in sales volume in Chinese mainland.
Another major retailer, Lukfook Group also has announced that its e-commerce business performed well in the mainland market, with a year-on-year increase of 54% for its quarterly sales in the fourth quarter of 2020,
In additon, Chow Tai Seng, among many others, achieved ballooning e-commerce sales through new marketing methods such as live commerce.
In China, the first three quarters of 2020, the self-operated e-commerce business achieved for 20.97% of operating income. In the third quarter, self-operated e-commerce business achieved a year-on-year increase in operating income of 159.95%.
Through digital marketing, China was not only able to build online sales channels, but also to raise consumers’ brand awareness through marketing platforms.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
