RESHAPING THE GIFT-GIVING CULTURE
China’s e-commerce industry is the largest in the world, surpassing the United States in terms of revenue and generating billion in billion.  ,
WeChat introduced electronic red packets linked to its electronic payment service in 2014, which is a significant component of Chinese tradition.
People who received large sums of money in the form of transactions quickly and conveniently through their apps were a fan of the digital dark packets, which digitalized a deeply ingrained Chinese custom in the lead up to the new season.  ,
According to industry experts, it also gave Tencent a leg up over Alibaba’s Alipay program in the online payment market.  ,
In 2017 only, WeChat users exchanged around 46 billion online red packets over the new year span in January.  ,
Just as Twitter changed the way individuals gave out classic red packets, does it do the same with its fresh “gift-giving” feature?  ,
” Gifting is something deeply rooted in Chinese culture, just like red boxes are,” said Li Jianggan, CEO of Singapore-based walk strong Momentum Works. He added that younger Chinese had significantly different spending habits and donating behavior from mothers.  ,
The new feature was described as” a strategic move” on Tencent’s part by analyst Dave Xie from the Oliver Wyman global management consulting firm.  ,
According to Xie,” China’s e-commerce scenery has undergone major alterations in recent years, driven by emerging systems, changing consumer habits, and strategic adaptations by proven players.”
WeChat’s “extensive” customer base and established social contacts may provide a special benefit in driving e-commerce proposal, he added.  ,
WeChat has “none of the Foreign e-commerce systems have,” Li said, a sizable customer community and a trustworthy cultural image, and it has more than 1.3 billion active monthly clients.
There is a good chance that the e-commerce competitive environment ( in China ) may be reshaped as WeChat gradually expands into social trading and life business.
However, it is still “hard to predict” whether the new gift-giving feature will be as well-liked and widely used as digital red packets, Li said, adding that it was” safe to assume” it would have a smaller use as compared to payment.  ,
” That said, we think that donating is just one of the numerous attempts to successfully integrate social business into the Twitter ecosystem.”