A Ruder Finn study released this week finds that social media strongly affects Chinese luxury shoppers’ purchase decisions, and WeChat has the greatest influence of all platforms. Fifty-eight percent of survey respondents in Mainland China said WeChat influences their brand choice. Named a Winner in L2’s Winners & Losers series, WeChat is growing at a rate of 25% in the past year (faster than any other Western or Eastern platform).
Users are excited about this platform built on a commerce DNA, but brands following? L2’s Intelligence Report: Social Platforms finds that brand participation (44%) on the platform lags behind Sina Weibo (60%) and others. However, growth in brand adoption of WeChat is higher than any other platform.
What categories can benefit the most from WeChat? Being a pioneer in social commerce, WeChat offers features such as payments, geolocators, loyalty and sampling programs, contests, live chat, and click-to-call. Beauty brands have the highest views and likes on the platform by far, perhaps due to the sampling and loyalty features.