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PR Newswire
Hyundai Card introduces 5 trends shaping the way Koreans consume digital content

SEOUL, South Korea, June 4, 2020 /PRNewswire/ — Ranging from K-pop sensation BTS and Oscar-winning "Parasite", Korean pop culture appears to be having its moment. Combined with ultrafast internet and 5G-powered smartphones, the growing popularity of Korean movie and music has led to an expansion in the country’s digital content consumption.

Korea’s major credit card company Hyundai Card has introduced 5 key trends shaping Koreans’ spending habits on digital content. The result is based on the company’s 2017-2019 analysis of its consumer transaction data at 10 digital subscription service providers such as Netflix and YouTube Premium.

The three-year analysis was a part of the efforts to better understand Korean digital content subscribers by Hyundai Card, which has been leading the country’s credit card trends with products tailored to customers’ lifestyle and extensive digital transformation initiatives. It has developed an artificial intelligence-based chatbot, adopted blockchain for its system and built an advanced algorithm to offer more personalized  customer services and benefits.

For more information about this report visit http://newsroom.hcs.com/front/board/Spending-on-video-streaming-services-grows

Infographic by Hyundai Card - Hyundai Capital Newsroom
Infographic by Hyundai Card – Hyundai Capital Newsroom

1. Korea’s digital content market grows much faster than global trends 

According to Hyundai Card’s analysis, its consumers spent some $30.83 million on music, video and e-book subscription services in 2019. It was about 2.6 times more than what was spent in 2017. The number of transactions has tripled over the same period from 2.36 million to 7.11 million.

While Korea is not the only country to witness the expansion of the digital content market, its growth pace has been much faster than global trends. According to Statista, digital content market (excluding games) edged up 1.13 times from $65.46 billion to $73.99 billion between 2017 and 2019, relatively slower than in Korea.

2. Video streaming services prompt explosive consumption in digital content

Among digital content subscription services, video streaming displayed the steepest growth in content consumption. Payments on video streaming services skyrocketed nine times from $2.05 million in 2017 to $17.92 million in 2019, while spending on music steaming services increased merely 1.3 times between 2017 and 2019.

The explosive growth of video streaming consumption was reflected in the transaction amount. Among the five most paid-for services in 2017, three were home-grown music streaming services such as Melon, Genie Music and Bugs Music. But in 2019, Netflix and local video streaming services like Wavve and TVING took up three spots.

3. No more piracy: Koreans more willing to pay for digital content than ever before

Psychological barriers had been high in Korea for consumption of paid content. People were mostly reluctant to pay for video-on-demand services and were used to downloading pirated films over the internet. Consuming paid digital content was deemed to belong only to tech-savvy young generation.

But this perception has changed. According to Hyundai Card’s joint survey with research agency OPENSURVEY, 92.7 percent of the respondents said they have a positive view about spending money on digital content. Of those surveyed, 37.4 percent said their perception has shifted from negative to positive.

4. In a rapidly aging society, the Korean elderly emerge as key consumer group

As Korea becomes a more aged society, the elderly have also increased their spending on digital content. Spending on digital content by those in their 50s and those aged 60 or more tripled from $1.2 million in 2017 to $3.5 million won in 2019, while spending by those in their 20s saw a two-fold increase between 2017 and 2019.

Noteworthy is the fact that people in their 60s were the most active users of e-book subscriptions. They spent 21 times more on e-books in 2019 than in 2017. Fifty-somethings spent 10 times more on video services over the same period.

5. Credit cards for streaming subscription gain popularity among Koreans

With digital entertainment options becoming more diversified, Korea has seen a series of credit cards targeting digital content subscribers. Hyundai Card also rolled out a new credit card "DIGITAL LOVER," offering an approximately $8 discount monthly from expenditure on digital streaming services such as Netflix and YouTube Premium.

"Against the backdrop of recent surge in digital content subscriptions propelled by the popularity of video streaming services," said a Hyundai Card spokesperson. "We took into account changes in consumer spending trend and life style when designing the card, not conventional elements such as their occupation or income. That led to upbeat response from customers."

Hyundai Card transaction data analysis

Period: Jan. 2017 ~ Dec. 2019

Target: Digital content service providers

Field

Service Providers

Video

Netflix, YouTube Premium, Watcha Play, Wavve, TVING

Music

Melon, Bugs Music, Genie Music

Books

Ridibooks, Millie’s Library

Consumer survey

Period: April 29, 2020

Target: 1,000 people aged 20 or over (Survey by OPENSURVEY)

Age

No. of men

No. of women

20~29

100

100

30~39

100

100

40~49

100

100

50~59

100

100

60 and over

100

100

 

 

 

PR Newswire
Made-in-China.com to hold online synchronous event for the 127th Canton Fair

NANJING, China, June 2, 2020 /PRNewswire/ — With the development of digital technology, there is a tendency for traditional business going online. Also, the COVID-19 pandemic is still spreading around the world. Therefore, in order to keep pace with the times and in response to the many nations’ strict lockdown for the pandemic, the 127th China Import and Export Fair ("Canton Fair" or "The Fair") will be held online from June 15 till June 24, in lieu of a physical exhibition.

The first virtual Canton Fair will create an online international trade platform of quality and specialty products that covers 16 major export categories, such as manufacturing and processing machinery, industrial equipment, health and machine, and consumer goods, and etc.

In order to explore new possibilities for efficient international trade, the Canton Fair will set up a cross-border e-commerce zone. And Made-in-China.com, as the leading comprehensive third-party B2B e-commerce platform in China, has been successfully selected as one of the official partners to have a seat in this cross-border e-commerce zone. Made-in-China.com will hold online simultaneous events from June 15th, 2020, which will create digital, immersive and convenient sourcing experience for global buyers.

With a focus on global trade and e-commerce, Made-in-China.com has been dedicated to developing technologies about SMART EXPO since 2016. Combining the advanced technologies like VR, 360 virtual tour and graphic interchange format, with abundant experiences of holding expos, Made-in-China.com created the original mode of "internet + expo" in China’s exhibition field while keeping improving and taking it to a higher level.

SMART EXPO simulates the experience which buyers could obtain during the traditional expos. 3D exhibition hall and virtual booth create a real participation experience for buyers. The online meeting room let buyers have the chance to negotiate with suppliers and send instant inquiries online. You can also set the meeting as private to protect your privacy and avoid interruption.

Moreover, SMART EXPO offers a series of customized services which buyers can only experience online. For example, the multilingual instant translation service will eliminate their worry about communication in different languages. They can also exchange their business cards whenever they want for further negotiation.

There are also services to help buyers to verify the qualification of suppliers. 360 virtual tour and video display of products can give buyers a direct understanding of suppliers’ enterprise, scale and quality. Meanwhile, buyers can check the ‘Audit Reports’ to get authentic information about suppliers and their products.

In this unprecedented time, Made-in-China.com will vow to hold as many SMART EXPOs as possible. "We will mobilize all our manpower and technical resources, improve our supporting services, help global buyers to do cross-border business conveniently and contribute to facilitating global economic growth," said by Li Lei, the general manager of Made-in-China.com.

PR Newswire
Banggood Enables Smart Shopping with New Feature Added through Huawei Mobile Service (HMS) Ecosystem

– Integrated the powerful, convenient image processing capabilities of Huawei’s Machine Learning (ML) Kit, Banggood users could instantly search for products with newly taken or saved photos and make purchases on their App.

GUANGZHOU, China, May 29, 2020 /PRNewswire/ — Banggood, a leading online retailer that focuses on cross-border export e-Commerce, has made the online shopping process even more fluid with the launch of a one-take purchase feature on their App integrated the powerful, convenient image processing capabilities of Huawei’s Machine Learning (ML) Kit.

Banggood enables smart shopping with new feature added through Huawei Mobile Service (HMS) Ecosystem. Integrated the powerful, convenient image processing capabilities of Huawei’s Machine Learning (ML) Kit, Banggood users could instantly search for products with newly taken or saved photos and make purchases on their Android App.
Banggood enables smart shopping with new feature added through Huawei Mobile Service (HMS) Ecosystem. Integrated the powerful, convenient image processing capabilities of Huawei’s Machine Learning (ML) Kit, Banggood users could instantly search for products with newly taken or saved photos and make purchases on their Android App.

Banggood is one of the first platforms in the world to implement Huawei’s ML Kit, which is one part of Huawei Mobile Services’ new HMS Core 4.0 Ecosystem. Released at the recent Huawei Global Analysts Summit 2020, the HMS Core 4.0 Ecosystem harnesses the power of machine learning to enable brands to deliver smart omnichannel experiences for users. With its integration of the ML Kit for smart shopping, Banggood aims to improve the front-end user experience for its customers.

The new feature allows Banggood users to instantly search for products with newly taken or saved photos and make purchases. Via the Banggood app, users can take photos of a product using their phone camera, upload a photo saved on their device, or import pictures from websites and social media. The app will then run an image search through Banggood’s product library, helping users find similar or related products that are available on the platform. For example, a user who sees an outfit they like on social media can simply upload the image to the Banggood app to search for the product, browse similar items, and make their purchase all on the same platform.

"At Banggood, our users are at the heart of everything we do. Our mission is to deliver a comprehensive online shopping platform with an unparalleled service level and user experience," said Aaron Chen, CEO of Banggood. "We have curated more than half a million products for users in our eCommerce platform. Now, we are providing them with a faster, more convenient and accurate way to find the products they are looking for. By harnessing innovative technology, we are delivering an unparalleled smart shopping experience for our customers around the world."

As a comprehensive shopping platform, Banggood has been a leader in the cross-border e-Commerce industry for over ten years and has an expansive global user base. The Banggood app currently boasts users in over 200 countries and receives over 10 million daily visitors, and the company is always searching for new ways to improve the shopping experience for its customers around the world.

About Banggood

Founded in 2006, Banggood is a leading e-commerce company running its website www.banggood.com and pages on other platforms to offer tens of millions of registered users more than 500,000 types of products, covering from consumer electronics to clothing. Banggood is headquartered in Guangzhou, China, the city of supply chain, with a global reach in North America, Europe, Asian Pacific, South America and Middle East.

For more information, please visit: https://www.banggood.com/aboutBanggood.html

Media Contact

Zoeh Zheng
Phone: +86-134-5028-6595
Email: [email protected]

Related Links :

http://www.banggood.com

PR Newswire
Optimization of Business Environment Stimulates the Recovery of the Economy in Changsha, China

CHANGSHA, China, May 29, 2020 /PRNewswire/ — Changsha, the capital city of Central China’s Hunan province, issued multiple policies on optimization of business environment to stimulate a strong economic and social recovery.

The manufacturing shop of Hunan Yanjin Puzi Holding Co., Ltd.
The manufacturing shop of Hunan Yanjin Puzi Holding Co., Ltd.

 

Xianing port area in Changsha new port
Xianing port area in Changsha new port

According to Changsha Business Environment Optimization Coordination Center, since the year of 2019, Liuyang city (under the jurisdiction of Changsha city) has released a number of supportive policies, such as "Twelve Measures on Optimizing Enterprise Services of Liuyang" and "Implementation Opinions on Advancing Economic Development on Night-time, Rural and Network Scale". "Regulations on Optimizing Business Environment of Changsha " is planned to be implemented on June 1st, 2020. Enterprises’ enthusiasm for innovation and entrepreneurship has been stimulated significantly, thanks to these favorable policies.

Hunan Yanjin Puzi Holding Co., Ltd. (Yanjin Puzi), with its headquarter in Liuyang, is a listed company specializing in research, development, production and sales of leisure snacks. It has enjoyed a reputation as "the first enterprise in self-producing leisure snacks in China". "From a small candied fruit workshop with less than 10 workers, to a large-scale listed enterprise in food industry today, the brand ‘Yanjin Puzi’ has been popularized from Changsha to the whole nation, even to the whole world. We cannot reach so far without the favorable business environment of Changsha," the Chairman of Yanjin Puzi, Zhang Xuewu said.

The financial report shows that Yanjin Puzi has reached 464 million revenues and 57.2 million net profit in the first quarter of 2020, increasing 35.43% and 100.8% respectively quarter-on-quarter. From January 2nd to May 15th, the stock price has risen by as much as 151%.

The "Double-Channel Reform" in Yuhua district, Changsha, has enabled the procedures including processing of license, taxation, social insurance, official seals and account-opening to be handled within 2 hours. Since the implementation of the policy of "zero-meeting" acceptance, "zero-threshold" audit and "zero-cost" certification, 3,275 new enterprises have been established, seeing a growth of 31.3% year-on-year. The total number of market entities in Yuhua district ranked first among China’s central provincial capitals, thus being rated as one of the top 100 national investment potential regions in 2019.

As one of the three critical parks in China (Changsha) Cross Border E-commerce Comprehensive Pilot Zone, Changsha Huanghua Comprehensive Bonded Zone has been proactively supporting cross border e-commerce and firmly increasing "1210" imported bonded e-commerce business values. Since March, 2020, a great increase has been witnessed in imported products like fresh aquatic products, daily chemicals, high-tech and mechanical and electrical products in Changsha, under the impetus of domestic demand.

Changsha Cross Endless E-commerce Co.,Ltd. has set up its nationwide largest bonded warehouse in Huanghua Comprehensive Bonded Zone; more than 50% products of China are shipped from here. From January 1st to May 21st, 2020, ordering numbers exceeded 870,000, and import and export volume reached nearly 300 million, which marked a 5.1 times of growth of annual total volume and a 2.4 times of growth of import and export volume in 2019.

Another cross border e-commerce named Changsha Fengmai Cross Border E-commerce Co., Ltd. is mainly engaged in Russia business. Products are shipped to Russia via Erenhot three times a week by air. By May 25th, over 3.3 million orders, with a total value of US$22 million have been sent to Russia. With the end of the epidemic, two more shifts will be added to this route once a week.

In order to effectively mitigate the impact of the epidemic and to support the development of freight routes, Huanghua Airport Customs has further simplified the speed-up process and shortened the clearance time. The "24-hour Green Channel" provides opportunities for "zero-waiting" and "zero-latency". This year, international freight routes from Changsha to North America, European, Africa and other regions will be open.

Image Attachments Links:

Link: http://asianetnews.net/view-attachment?attach-id=364390
Caption: The manufacturing shop of Hunan Yanjin Puzi Holding Co., Ltd.

Link: http://asianetnews.net/view-attachment?attach-id=364396
Caption: Xianing port area in Changsha new port

PR Newswire
CC Awards Reopens to Recognize Customer Contact Excellence

Frost & Sullivan prepares to honor companies in customer contact & customer experience industry

SANTA CLARA, California, May 28, 2020 /PRNewswire/ — Customer service practitioners and solution providers of all areas are invited to nominate their organizations and/or clients for the CC Awards (CCs), the customer service awards program that recognizes excellence and outstanding achievement across key areas of the industry. The CCs provide an opportunity to reward those who are leading the way in innovative actions, committed pursuit and exceptional service to their customers.

Frost & Sullivan - The CC Awards
Frost & Sullivan – The CC Awards

To submit a nomination or learn more, please click here: www.frost.com/ccawards.

"By recognizing companies who are breaking new ground in customer service excellence, we aim to create a forum for celebrating and sharing best practices in the world," said Michael DeSalles, Principal Analyst, Information & Communication Technologies at Frost & Sullivan.

Following nominations, a panel of industry experts and Frost & Sullivan research analysts will judge each category. Companies selected as best-in-class will be honored as "Kahunas" in the category or categories for which they entered. Kahunas will then be invited to compete once more to be considered for the "Big Kahuna" recognition in each category. All winners will be honored, and Big Kahuna winners are currently planned to be announced at the 16th Annual Customer Contact West: A Frost & Sullivan Executive MindXchange, October 18-21, 2020, at the JW Marriott Tucson Starr Pass Resort & Spa in Tucson, Ariz.

Practitioners or solution providers that focus on distinguished customer experience are encouraged to nominate their accomplishments in one or multiple categories. Consideration will be given to those whose achievements have set them apart during the past year.

About Frost & Sullivan

Over five decades, Frost & Sullivan, the Growth Pipeline Company, has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Visit our website.

Contact:
Brooke Filson
Global Events, Frost & Sullivan  
E-mail: [email protected]

Photo – https://techent.tv/wp-content/uploads/2020/05/cc-awards-reopens-to-recognize-customer-contact-excellence.jpg

Related Links :

http://www.frost.com

PR Newswire
Meituan Demonstrates its Contributions with the 2019 Corporate Social Responsibility Report

BEIJING, May 20, 2020 /PRNewswire/ — Meituan Dianping (HKG: 3690), China’s leading e-commerce platform for services, today released its 2019 Corporate Social Responsibility Report (or "the Report") to demonstrate how the company has created value for users, industry and society through platform resources and technology innovation.

Meituan Dianping 2019 Corporate Social Responsibility Report
Meituan Dianping 2019 Corporate Social Responsibility Report

In 2019, Meituan further strengthened focus on its mission of "We help people eat better, live better." Meituan enhanced its commitment to sharing its social responsibility philosophy across its whole ecosystem in order to promote development and progress and to create better lives, a prosperous industry, and a harmonious society.

Highlights of Meituan CSR Report 2019:

  • Services for seniors and children became new territories for service consumption growth. In 2019, the number of delivery orders from the elderly increased by nearly 30% over that of the previous year. Meanwhile, child-friendly hotels and restaurants, as well as education services, also saw a boost. In particular, the number of user reviews of "child-friendly hotels" on Meituan more than doubled in 2019.
  • Meituan provides its 6.2 million merchants with comprehensive support programs to help accelerate their digital transformation. About 49% of China’s "time-honored catering brands" now provide delivery services on Meituan.
  • 3.99 million delivery riders obtained income through Meituan in 2019, an increase of 23.3% year-on-year, and 56.8% of riders were employed in their home provinces.
  • In 2019, among 257,000 delivery riders from state-registered poor households who earned income through Meituan, 98.4% helped their families out of poverty because of the increased income from their employment as delivery riders.

A better life for 450 million users

In 2019, the per capita service expenditure in China accounted for 45.9% of the total consumption. Meituan has made continuous efforts to meet the diversified needs for the quality life of 450 million users on its platforms through technology innovation, service innovation and product innovation.

The Report shows that services for seniors and children became new territories for service consumption growth. Meituan Waimai, the company’s on-demand food delivery business, has helped solve the difficulties in cooking and dining faced by the elderly. In 2019, the number of delivery orders from the elderly, people aged 60 or above, increased by nearly 30% over that of 2018. Meanwhile, for the younger generation, Meituan witnessed a sharp growth in transaction volume for child-friendly restaurants.

Based on deep consumer insights, Meituan provides users with convenient, quality and trustworthy consumption references. Meituan’s 2019 "Black Pearl Restaurant Guide" served as a credible reference for food lovers, while supporting the development of high quality restaurants by driving their number of online orders for set meals up 69% and the total online sales volume up 190% year-on-year.

At the same time, Meituan is committed to promoting a healthy diet and lifestyle. Its platforms witnessed rapid growth in demands for light, low-calorie, diet and healthy meals, sports and fitness activities and consumer medical and healthcare services in 2019.

The beginning of 2020 was marked by the outbreak of COVID-19, stalling a majority of in-store services. Delivery riders served as people’s lifelines while cities were under lockdown and people had to stay at home. Meituan statistics show that Meituan riders in Wuhan, Hubei province, delivered over 4 million orders during the 76-day citywide lockdown period and over 7,000 supermarkets, pharmacies and grocery stores on Meituan in Wuhan delivered groceries and medicines for residents. Meituan was as well the first in the industry to introduce a "contactless delivery" service to protect users and riders from the virus.

Empowering 6.2 million merchants on digitalization

In 2019, the number of active merchants on Meituan reached 6.2 million. Meituan provides diverse merchant support programs in marketing, delivery, IT support, supply chain, operation and financing, to help them lower costs and improve operational efficiency through digital transformation.

The Report shows that 49% of China’s "time-honored catering brands", which operate about 3,100 restaurants in 246 cities nationwide, provide delivery services on Meituan, while 19.3% offer group purchase and reservation services and 23.5% use QR codes and other digital payment systems. Meituan’s digitalization support is driving a 23% revenue increase in new catering businesses.

Building "new infrastructure" for digital life and a harmonious society

Meituan has been expanding the coverage and practices of social responsibility through programs in employment, poverty alleviation, and public welfare to help address social problems, leveraging its digital capabilities to build a dynamic, sustainable society with partners.

Delivery riders, which were recently added to the official national occupation list by China’s Ministry of Human Resources and Social Security, have become a "new infrastructure" for urban life. The Report unveiled that 3.99 million delivery riders obtained income through Meituan in 2019, an increase of 23.3% year-on-year, while 56.8% of delivery riders were employed in their home provinces. Among the 257,000 delivery riders from state-registered poor households who earned income through Meituan last year, 98.4% helped their families out of poverty.

Since late January, after the virus outbreak, Meituan has recruited over 950,000 new riders to join its delivery network.

For the full Meituan CSR Report 2019, please visit:
https://about.meituan.com/about/society/responsibility

About Meituan Dianping

Meituan Dianping (HKG: 3690) (the "Company" or "Meituan") is China’s leading e-commerce platform for services. With the mission of "We help people eat better, live better," the Company’s platform uses technology to connect consumers and merchants. Service offerings on the platform address people’s daily needs for food, and extend further to broad lifestyle and travel services. Meituan is the world’s leading on-demand food delivery service provider and China’s leading e-commerce platform for in-store dining services. Meituan helps consumers discover merchant information, make informed decisions, complete online and offline transactions and enjoy on-demand delivery. The Company currently owns several household brands in China, including Meituan, China’s leading online marketplace for services, Dianping, China‘ s leading online destination for discovering local services, Meituan Waimai for on-demand delivery services, and Meituan Bikes for bike-sharing services. Meituan has 450.5 million Annual Transacting Users and 6.2 million Annual Active Merchants as of December 31, 2019. The Company operates in over 2,800 cities and counties in China.

For media inquiries, please contact:

Meituan Dianping Global Communications
[email protected]

Photo: https://photos.prnasia.com/prnh/20200520/2809425-1?lang=0

Related Links :

https://www.meituan.com/

PR Newswire
Manhattan Associates Predicts Post COVID-19 Lockdown Retail Trends in Australia

SYDNEY, May 19, 2020 /PRNewswire/ — Manhattan Associates Inc. (NASDAQ: MANH) predicts five key business and technology trends that will have an impact on Australian retailers as they begin to reopen following the easing of COVID-19 restrictions.  Manhattan Associates Predicts Post…

PR Newswire
Goodbaby Group launches new products at 60th trade show

KUNSHAN, China, May 14, 2020 /PRNewswire/ — On May 11, 2020, Goodbaby Group, a leading brand company of the global durable juvenile product industry, held the 60th trade show in Kunshan, where it was founded in 1989. Adhering to the innovative spirit…

PR Newswire
ZAFUL and LiveMe donate masks to California hospital

MARTINEZ, Calif., May 8, 2020 /PRNewswire/ — ZAFUL has taken steps to fulfill its social responsibilities, and actions to help curb the spread of the COVID-19 outbreak. Cooperating with LiveMe, a joint live broadcast partner of Cheetah Mobile, ZAFUL donated…

PR Newswire
TAIGER launches movement and chatbot to help people and businesses cope during COVID-19

SINGAPORE, May 13, 2020 /PRNewswire/ — TAIGER has launched an AI-driven chatbot, ‘Ask Phoebe‘, as part of a movement called #makehomesgreatagain to help people make better use of their time while at home with their families. TAIGER launches movement and chatbot…

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