Greeting China Social E-Commerce Explosive Growth, WeTrade Group is Ready for New Challenges

Rhea-AI Summary

WeTrade Group (WETG) anticipates explosive growth in social e-commerce as consumer habits shift due to the pandemic. Despite a significant decline in China's retail sales by 19% in Q1 2020, the online shopping trend has accelerated, boosting demand for social e-commerce solutions. With the market for social e-commerce expected to surpass RMB 2 trillion, WeTrade Group leverages its data-driven revenue management system to support micro-businesses and social platforms across various industries, positioning itself to capture growth in this evolving landscape.

Positive

• WeTrade Group is positioned to benefit from the explosive growth of social e-commerce.
• The company has developed a social e-commerce revenue management system, enhancing its service offerings.
• China's social e-commerce market is projected to surpass RMB 2 trillion, indicating significant growth potential.

Negative

• The pandemic severely affected the offline economy, impacting consumer spending habits.
• China's retail sales declined by 19% year-on-year in Q1 2020, indicating economic challenges.

BEIJING, Aug. 24, 2020 /PRNewswire/ -- WeTrade Group INC (US: WETG) ("WeTrade Group" or "the Company"), a company providing technical services and solutions to membership-based social e-commerce platform through big-data, social recommendation relationships, multichannels App data statistics, etc., today announced that because experts believe that social e-commerce will become a new growth approach of the online economy to unleash people's consumption desire, so WeTrade Group looks forward to experiencing an opportunity for explosive growth.

It is destined to be an extraordinary year as the booming prosperity has been affected severely. The sudden outbreak of the pandemic has caused a huge impact on the domestic and international economy. Crowded people avoided from going to the shopping mall and tourist spots are closed or have limitations on attendance, numerous small and medium-sized enterprises have to declare bankruptcy due to the worse revenue. In the first quarter of 2020, China's retail sales of consumer goods dropped to RMB 7.858 trillion, decreased sharply by 19% year-on-year, according to data released by China's National Bureau of Statistics.

At the same time, consumers' lifestyle has also undergone a dramatic change, and even people who had never shopped online before have learned to buy everything online. Affected by the pandemic, the proportion of online consumption in China's economy is getting higher and higher, pushing e-commerce platforms to think out of the traditional way and to seek for upgrading. It can be seen that not only some emerging social e-commerce platforms, but also e-commerce giants have joined the social e-commerce trend to seize the opportunity.

At present, the social e-commerce industry has formed three kinds of business mainly, including WeChat social community micro-business, burgeoning social e-commerce platforms and the challenges from traditional e-commerce giants. Meanwhile the social e-commerce has developed to the third phase.

The development of group buying platforms is repesented by Pinduoduo; the development of social + e-commerce model platforms is repesented by Yunji. With the change of the industry and the upgrading of mass consumption, the social e-commerce technology service platform represented by WeTrade Group has been formed in recent years. Relying on its own advantages and keen perception of the market, WeTrade Group has grown rapidly and gained recognition from the market.

WeTrade Group provides technical services and solutions as a listed SaaS business to support micro-business online stores and social e-commerce platforms. Through big-data, social recommendation relationships and multichannel APP data statistics, the Company developed a social e-commerce revenue management system in 2019. The main functions of the system are user marketing relationship implementation, CPS commission profit management, multichannel APP data statistics, etc.

China social e-commerce has been marketing, the transaction scale has surpassed RMB 1 trillion, becoming a significant and high growth market. According to the 2019 China Social E-Commerce Development Report, issued by China Internet Association, the size of 2019 social e-commerce's market is expected to surpass two trillion RMB this year, increased by 63.2% year-on-year, demonstrating the rapid development and the tremendous potential. Benefiting from the e-commerce prosperity, in 2019, WeTrade Group has developed rapidly with its core revenue management system "WePay" in the Chinese market. WeTrade Group leverages its technology and premium services to cooperate with other platforms in China, including Yuetao APP, Daren APP, JD zhiding APP, Lvyue APP, Yuebei APP, etc., covering retail, tourism, hospitality and beauty industries and operating in Mainland China, Hong Kong SAR, Singapore and other regions.

The severe hitting of offline economy by the pandemic has affected users' consumption concept. Even industries have fully resumed work and production, the relevant data show that people's suppressed consumption desire has not been unleashed fully, for dining out and shopping as well as going to movie theaters, and tourist spots. Therefore, experts believe that social e-commerce will become a new growth approach of the online economy to unleash people's consumption desire. In addition, as a company providing SaaS technology services and solutions for membership social e-commerce, WeTrade Group looks forward to experiencing an opportunity for explosive growth.

About WeTrade Group Inc.

WeTrade Group Inc. provides technical services and solutions based on membership social e-commerce. Through big-data, social recommendation relationships, multichannel APP data statistics, etc., the Company developed a social e-commerce revenue management system, The main functions of the system are user marketing relationship implementation, CPS commission profit management, multichannel APP data statistics, etc. the system has been applied in the retail, tourism, hospitality and beauty industries, focusing on 100 million micro-business users in China. WeTrade conducts its business operations in mainland China and trial-operations in Hong Kong SAR, and Singapore etc.

For more information and product demos:
http://www.wetradegroup.net

 

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SOURCE WeTrade Group INC

FAQ

How has WeTrade Group (WETG) adapted to changes in consumer behavior due to the pandemic?

WeTrade Group has enhanced its focus on social e-commerce solutions, capitalizing on the shift towards online shopping.

What is the projected market size of social e-commerce in China?

The social e-commerce market in China is expected to surpass RMB 2 trillion in 2020, reflecting a growth rate of 63.2% year-on-year.

What revenue management system does WeTrade Group offer?

WeTrade Group's revenue management system focuses on user marketing, CPS commission management, and multichannel data statistics.

What sectors does WeTrade Group serve with its technology services?

WeTrade Group provides services across retail, tourism, hospitality, and beauty industries.

What challenges does WeTrade Group face in the current market?

The pandemic has severely impacted offline retail, leading to shifts in consumer purchasing behavior that could affect growth.