1/3/2023 0 Comments The next big thing 2021Bernstein, a broker, reckons that America’s 330m people have 30 times as many malls as 1.4bn Chinese do. According to Bain, a consultancy, America has 3.3 times as much physical shop floor per person as China does. Although radio and television played a role, through advertising and product placement, Western retail’s bedrock was-and continues to be-bricks and mortar. The car carried people to the suburbs, giving rise to the shopping mall, a place not just to shop but to mingle and have fun. It was built around overlapping technologies. Indeed, to understand the evolution of Chinese e-commerce, look back to the birth of 20th-century consumerism in America. The newcomers bring the sort of verve to online shopping in China that characterised America’s consumer boom of the 1950s and 1960s. Digital firms from outside retail are muscling in, including Meituan, which started out in food delivery, and ByteDance, which owns TikTok and its Chinese short-video cousin, Douyin. In a few years Pinduoduo has captured 14% of the market, helping to trim Alibaba’s share from 67% to 61%-and forcing the giant to moderate the “take rate” it charges those selling via its platforms. It is not just Alibaba making the running. Yet a survey of Chinese e-commerce reveals genuine dynamism. Lubomira Rochet, chief digital officer at L’Oréal, a French beauty behemoth, contrasts the bottom-up, “consumer-centric” vibrancy of Chinese e-commerce with the West’s “tech-driven”, top-down approach. “If you want to see the future, look at China,” Mark Schneider, boss of Nestlé, the world’s biggest food company, instructs his executives. But the effervescence is here to stay-and Westerners are only starting to notice. Some of this capital flows straight back out as subsidies to entice buyers and sellers to the platforms, which clearly cannot go on for ever. Chinese tech firms are pouring fortunes into them. In contrast to Taobao, the new ventures do not yet make money. In rapid-fire videos or days-long jamborees, they flicker across hundreds of millions of smartphone screens in a cyber-bazaar that in 2019 was almost twice the size of those of America, Britain, Germany, Japan and South Korea combined-and growing faster (see chart 1).Īs online shopping has soared, even before covid-19 added extra fuel, Chinese internet firms have dreamed up new ways to engage consumers. This contract may be changed if both SCI and artist agree.Such are the faces-lipsticked, sunscreened, weather-worn or besnorkeled-that have helped propel an explosion of e-commerce in China. SCI will cover the cost for designing and possible printing of post cards.īy submitting to the online shop the artist agrees to abide by the rules of SCI otherwise SCI will cancel the contract. SCI will promote the exhibition through regular membership emails, press releases, social media and on occasion postcards. The artist retains copyright to all consigned artwork in perpetuity, as governed by law. The following commission/payment terms will apply to each subject artwork sold by The Blackboard Gallery, SCI: 60% (payment to artist), 40% (commission to SCI).ĪRTIST retains ownership of all artwork represented by The Blackboard Gallery, SCI until such artwork is sold pursuant to the terms of this Agreement or otherwise. The artist is to include gallery commission in the price listed. Retail prices for each artwork will be established by the artist. The artist grants SCI the right to use or publish images of their work in print, online and on social media sites for promotional purposes. #The next big thing 2021 updateUpdate gallery of any works that you have sold on your own so they may be taken down from the shop.Īrtist allows the work in the exhibition to be photographed for purposes of reports, documentation and publicity. Must notify the gallery of any works that will take longer to become available. Works must be delivered to the gallery within 3 days of them being sold on our website. Current W9 form (SCI will provide this document for the artist to fill out when it becomes necessary)
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