New WeChat Black Hole Responds to Retail Tension

Tencent's instant messaging software We Chat will be launched in the near future. According to the internal test version received by the manufacturers, the expected impact will be the physical retail industry; WeChat integrates bar codes, parity information, online shopping and third-party payment. After that, consumers can buy the products they need directly from their mobile phones. They do not have to visit physical stores at all.
The 5.0 version of WeChat is reportedly to be launched in August. Several vendors have recently obtained internal test versions. In addition to shake-up and other new features, the industry is surprised that the new version integrates a large number of existing Tencent systems, including the bar code Connect to the Internet to check the minimum prices of Amazon and Dangdang. Tencent’s TenPay will be used to pay for purchases.
WeChat currently has 400 million users and continues to grow at an alarming rate. WeChat launched a wave of telecommunications revolution in the China Pavilion, including a sharp decrease in the use of newsletters and call charges for China Telecom and other telecom operators. The main reason is WeChat's free newsletter and Free recording call function.
Wang Zhimin, chairman of Taiwanese Star Ventures Group, said that everyone was talking about Weibo last year. I did not expect that the focus of this year's topic was on WeChat. The Chinese people's use and acceptance of new technologies was quite high, and manufacturers had to speed up adjustments.
WeChat version 5.0 is considered by the industry as a "black hole" product. Just like the black hole in space, it integrates all kinds of App functions in the market. For example, the bar code is directly placed into the WeChat function, and people do not need to download it extra. Its App is ready for use.
Another concern is that the war between Tencent and Alibaba will also be triggered by the new version of WeChat. The online shopping platform built into WeChat 5.0 version has Amazon and Dangdang. According to reports, Jingdong Mall is also negotiating and entering; but only China cannot be seen. The online shopping giant Alibaba’s Taobao and Tmall. Even third-party online payment systems use Tenpay’s self-developed TenPay, rather than Alipay’s Alipay. Tencent intentionally excludes Alibaba’s intentions. .
The latest policy of the Chinese government is to encourage information consumption. The so-called information consumption is through online shopping, mobile payment, etc. Wechat is one of the objects of information consumption encouragement. According to the statistics of the Ministry of Industry and Information Technology, in the first five months of this year, the mainland's information consumption scale was as high as RMB1.38 trillion, a 19.8% increase over the same period of last year.

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