Home industry retail apple introduced a new store on social media platform Tencent
Retail
CIO Bulletin
2023-07-11
Tencent’s WeChat platform announced on Tuesday that a new Apple store had been opened, expanding the reach of the iPhone maker in China.
Earlier this week, it was announced that Apple, makers of the iPhone, had reportedly opened a store on the social media platform Tencent's WeChat, expanding the US Company’s retail channels in the second-largest economy in the world.
WeChat, the most popular messaging app in China that also offers e-commerce, live streaming, and payment services, announced that users would be able to purchase Apple products from the store, including iPhones, iPads, and Macbooks.
Apple's move comes as Chinese consumers increasingly use social media sites like WeChat and ByteDance's Douyin, which is TikTok's Chinese equivalent.
Apple already runs a store on the online marketplace of Alibaba Group's Tmall in addition to its own brick-and-mortar locations and website. In May, Apple attempted to advertise its products in China for the first time via a livestream that was an hour-long show.
According to data from Counterpoint Research, China's smartphone sales in the first quarter decreased 5% year over year, which was the lowest first-quarter sales figure for the nation since 2014.
However, the research firm noted that Apple increased sales by 6% year-over-year in a declining market during the quarter, giving it a 19.9% share of the Chinese smartphone market—its highest since 2014.
Apple and Tencent did not seem to pitch in on additional comment requests.
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