For efficient brand impact in China’s massive retail market, more U.S. retailers are turning to key opinion leaders (KOLs) to influence Chinese consumers’ online purchases.
Fung Global Retail & Tech expects the emergence of KOLs as ‘cewebrities’ — popular online personalities — will continue to propel the growth of cross-border e-Commerce for foreign retailers.
As the world’s largest e-Commerce market, China is lucrative, growing and enthusiastic about U.S. products. In 2015, cross-border consumer e-Commerce reached $40 billion (£32.28 billion) with an annual growth rate of 50%, according to McKinsey & Company. iResearch found top-selling categories include cosmetics and skin care, baby and mom products, fashion apparel, electronics and food and nutritional supplements.