WeChat belongs to Tencent and it is the rockstar within Chinese digital economy being a super integration of different apps within a single mobile application that is world’s most used app in the world: WeChat.
It can be considered Swiss army knife that seemingly does everything and it also offers other services including mobile payments and transfers, online gaming, music, newsfeed, shopping roasters in China can buy your coffees in this way. You can basically do anything on this app. But why is so successful and important? There are two main features that make WeChat an "app on steroids”: payment integration and mini-programs. What’s a mini-program?
A mini-program as a sub-application within WeChat ecosystem that enables to provide advanced features to users such as e-commerce, task management, coupon, [payments, ordering foods,} etc. and allows users to access any WebApp without leaving WeChat. These mini-programs allow third-party companies to develop their own apps within WeChat and this helps to streamline the sales process turning WeChat into a very important sales platform where the transactions value in mini-program is more in than RMB¥1.6 trillion in 2020 (doubling the value in 2019)
In terms of exposition and penetration WeChat is perhaps the most used app in China for communication, purchases and payments (quite obvious, isn’t?). Since you can do anything on WeChat, different companies in all levels of the global value chain be linked in this platform: a green coffee trading company can sell their coffees supplying roasters who later can sell it to coffee shops (or in their own shops). Many different coffee companies do the same: coffee shops, roasters, including coffee appliances manufacturers such as Hario has one). These coffee shops can sell finished beverages (either placing orders online by scanning a QR Code and receiving payments, or through mini-programs receiving orders from other integrations without leaving WeChat); whereas instant/soluble and roasted coffee companies which products are sold in different online shops within this app (which these two latest segments are the largest in China). More than an ecosystem, WeChat is a universe itself where all the different stakeholders can develop within.
Coffee Exchange WeChat's mini-program
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