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Bits & Bytes | China's Social Media Shut-Down, Wearable Tech to Double by 2021

This week, Chinese luxury brands are concerned after the government closes 60 social media accounts, while wearable tech looks likely to double in size within four years.
Source: Reuters
By
  • Megan Doyle

How the Social Media Crackdown in China Will Affect Luxury Brands (Jing Daily)
"One popular speculation related to the Harper's Bazaar shut-down is that the government is cracking down on the chaotic entertainment industry, and brands who are looking [to hire] controversial celebrities to boost their sales are under close watch."

The Wearable Market is Set to Double its Size by 2021 (Wareable)
"The International Data Corporation report expects smartwatches to continue dominating the wearable market, but not necessarily the high-end smartwatches that allow you to run third-party apps. Instead, it sees basic smartwatches, like hybrids, outpacing more traditional smartwatches as watchmakers shift their resources."

Alibaba CMO Says Don't Compare the Chinese Company to Amazon. It's Much Bigger. (Fast Company)
"Think of Alibaba as a combination of Google, Facebook, and Amazon, in one. Brands set up and operate their own e-commerce flagship stores on the Alibaba platform. And global brands have flocked to it, including Nike, Apple, Coke, Uniqlo, Zara, and L'Oreal."

Farfetch CMO John Veichmanis: 'Data is the New Marketer's Currency' (Glossy)
"Our job is to build meaning around the data to serve our customer more appropriately. That goes back to the basics of what marketing is: understanding consumer preferences. But rather them telling us in words and in surveys, we use our own gathered data to make decisions in real time."

The Future of Fashion (Raconteur)
"'We make a shirt the same way we did 100 years ago and it's insulting," says to Kevin Plank, founder of sportswear brand Under Armour. But this is set to change. Mr Plank, among others, is asking: 'How can we use technologies to make a better product and produce it more efficiently?'"

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