China is hot for social shopping. At least that’s what Mary Meeker’s 2016 Internet Report indicates.
The deck shows 31% of WeChat users shop on the platform. Meanwhile in the U.S., social platforms are struggling to get users to shop. Last month, Twitter dispersed the team working on its commerce products, including its much hailed “buy button.” Meanwhile, though Facebook has tested a similar function, the platform has yet to go hard on in-feed shopping. You’re more likely to get served a “shop now” button that redirects you to a retailer site than an outright “buy” button.
That doesn’t mean Americans aren’t shopping online. Almost 70% of U.S. adults are buying on the web, according to an industry report from Mintel. We just don’t seem to have a great desire to buy products in the same place we share photos of our beachiest vacations.
In general, the Meeker report notes, China is pretty big on virtual shopping. Alibaba and JD.com constitute two of China’s biggest retailers—two stores that are exclusively online. Comparatively, the top two retailers in the U.S. are Walmart and CVS.