Buykee Explodes on the Chinese Social Shopping Stage
Luxury Brand Social Commerce Site Gains Momentum
As e-Commerce is solidified as a major outlet for retailers in China, users turn to Buykee to post and discover interesting new fashion content. Recently launched out of beta form, the social commerce site appears very much like a social networking site, but with a distinct bend toward higher-end fashions. The shopping-oriented pin board has been compared to Mogujie, covered here by FashInvest. The same team first began a social IT community site under the same name in 2005. However, when that project failed, the team went back to the drawing board and emerged with Buykee innovations.
The Buykee official blog stands firmly when it says, “online shopping portal platform will be the next big thing.” If trends continue as they have been with the progress of the launches of Mogujie, Renren Plaza and Wantu, the sector will only grow from here.
In the Chinese economy, minimum wage is going up 15% a year over the next five-year period. Other salaries will also increase during this period due to a shift in the auto, production and e-commerce industries. This gives Chinese consumers lots of spending power and strengthens the prediction of China being likely to replace the United States as the biggest market in the world.
Predictions as such gives social commerce sites such as Buykee a great start and a positive outlook on the future. While Buykee should consider cleaning up the website’s aesthetic for targeting high-end fashion, the content is generally good and usage is growing. Essentially, social commerce sites solidify users’ relationships with brands as the brands themselves become personified as “friends” in one’s social network.
By Natalia Ignaczak