Burberry has created a “mini program” with Tencent that provides exclusive content and tailored experiences that can be unlocked on WeChat, at a time when China has millions of mini-communities on the social media platform. And in small business, a sizable share of SMBs have tapped their personal financial lifelines, including credit cards, to keep their companies operational. All this, Today in Data.
Data:
35%: Share of SMBs that have used personal funds to finance operations during the pandemic.
11.6%: Estimated share of China’s total retail eCommerce sales that are driven by social commerce.
$10.4B: Minimum amount of reserves J.P. Morgan set aside for potential loan losses.
3.1%: Estimated portion of personal loans that were delinquent in June.
1B: Minimum number of WeChat’s active monthly users.
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