MOXC Rides Rising Tide of E-Commerce in China
- O2O sales expected to reach $78.4 billion this year in China
- MOXC mobile apps help target nation’s booming e-commerce shopping
- China’s online purchase growth outpacing in-store business
Moxian, Inc. (NASDAQ: MOXC
) is helping large retail businesses connect with their customers amid the explosive growth of e-commerce in China, a nation that contains about a fifth of the world’s population and tremendous potential for market success.
Multinational professional services network PricewaterhouseCoopers reported earlier this year that 7 percent of China’s shoppers did their daily shopping by mobile phone and 5 percent using desktop computers — about twice the rate worldwide (http://nnw.fm/Agx5p
). During the first quarter, national online retail sales were 32.1 percent higher than the previous year, whereas in-store sales increased only by 7.2 percent, it reported.
Moxian’s social network-enabled apps Moxian+ User and Moxian+ Business cater to customers and the businesses they frequent, helping businesses reward consumer loyalty in an online-to-offline (O2O) pipeline that personalizes the shopping experience while helping customers geo-locate the nearest store for the products they’re seeking at any given time.
The app also builds on social media trends by allowing users to interact with a circle of online friends, share information through groups or topic messaging and personalize their networks.
The Shenzhen, China-based development-stage company announced a change in direction in October to focus its resources on corporate clients with large retail footprints whose mobile customers may be seeking them at a variety of locations on a given day.
MOXC’s new CEO and board undertook the measure amid a shift from a free app model to a paid subscription service, after determining the larger retailers will provide a greater market share at a faster pace than the multitude of small mom-and-pop shops that may have a limited number of locations.
The company’s change in strategy also aims to reduce non-production related SG&A costs by boosting sales through independent agents, which will help Moxian better align its costs with the customer revenue stream, according to the company (http://nnw.fm/oU4Ju
China Daily reported that the first half of 2017 saw retail sales climb 10.4 percent to some 17.24 trillion yuan ($2.55 trillion), and a 28.6 percent increase in the online sale of physical goods (http://nnw.fm/stfV1
Retail analyst iResearch estimates this year’s O2O e-commerce sales in China alone will amount to $78.4 billion, driven largely by the “integration of online and offline business” and company strategies aimed at adding value to their offerings amid a 29.6 year-over-year growth in online shopping during the second quarter (http://nnw.fm/E2qtr
Moxian’s apps provide companies with data to help them better target those digital consumers and develop repeat business at their stores. In 2016, the Big Data Industry Alliance of China and the China Center for Information Industry Development presented the company with an award for Best Solution Award of Social Media Marketing.
For more information, visit the company’s website at www.Moxian.com