Micro-retail enterprises (MREs) have had to adapt to changing conditions in regards to mobile payments (m-payments) and access to loans. The authors built on the published results of two previous surveys of MREs. One thousand nine hundred and ninety-eight MREs in four cities in China were surveyed in May and June of 2018 to determine the use and importance of m-payments to their business, their access to loans, and patterns of entrepreneurship. While some trends remain unchanged, at least two significant findings emerge. M-payments have not only gained almost universal acceptance by MREs in China; they are the overwhelmingly preferred payment method. In our last paper, we argued that "m-payments may represent a form of leapfrogging technology which will spur growth in this sector" and this paper provides additional evidence this is occurring. M-payments show every sign of being an example of a leapfrogging technology that is quickly changing the rules for retail in the MRE sector and opening new opportunities for businesses while lowering transaction costs, reducing fraud, and improving customer satisfaction. There are intriguing implications, including changes to the pace of m-payments replacing credit cards. Second, while it remains true that overall, access to loans for MREs is limited; there is a great deal of variation between tier-one cities and tier-two and tier-three cities.
Consumer adoption of energy efficient household appliances in China is very low despite government efforts since 2005 to boost the purchase of these money and energy saving devices. This paper builds on a prior publication of the authors (2014) which concluded that a large part of the problem is a combination of poor marketing of the cost savings of these devices coupled with lower levels of purchases with credit versus cash. A survey that seeks to provide an answer to what specific changes need to be made in marketing and credit was administered to 462 consumers in four Chinese cities (Beijing, Lanzhou, Fangchenggang, and Jinchang) in the summer of 2015. The findings indicate better labeling and funneling funding away from rebates and toward low-interest loans would significantly increase the adoption rates of energy efficient appliances. Improving the adoption rates of energy efficient household appliances in China is good for manufacturers (who make money selling more expensive items), consumers (who benefit from a reduced cost of ownership), the Chinese government (which is currently engaged in a campaign to lower the amount of energy used), and the world (which benefits from a cleaner environment).Keywords: China's environment, energy efficient appliances, improving adoption of energy efficient appliances in China, Chinese consumers, China Energy Label, impact of consumer labeling, Energy Star This research builds on a prior paper that sought ways to improve consumer energy consumption patterns. Earlier work found that:Low adoption of energy efficient appliances has more to do with a lack of information on the benefits of these devices coupled with a label that does not provide all information needed for consumers to make a sound decision as to which appliance will give them the lowest cost of ownership.
Micro Retail Enterprises (MREs) in China play an important but underappreciated role in China's economy. The authors built on the published results of a survey of MREs conducted the previous year. The authors surveyed 2,174 MREs in four cities in China in an effort to determine their access to both formal and informal sources of credit, use of credit cards and mobile payments (m-payments), entrepreneurship and business strategy. While some trends remain the same, at least two significant findings emerge: insights on access to loans and the fast rise of m-payments. While less than 8% of MREs have been successful in securing a traditional business loan from one of the state-run banks, approximately two-thirds of MREs have found ways to access credit, most commonly with loans from family and friends. Implications of this are explored and it is argued that better access to business loans for MREs would help this sector mature. On the positive side, m-payments have exploded in popularity over a very short period of time. Almost 90% of MREs accept at least one form of m-payment and owners report the importance of them for business growth. It is argued that m-payments may represent a form of leapfrogging technology which will spur growth in this sector.
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