In case you didn't already know it, Alibaba are killing it from an ecommerce perspective in China. At the #RetailWithoutBorders event yesterday, Mei Chen of the group shared some high level insight into the Chinese market and why it is so interesting. The video and insight shared was like nothing seen in ecommerce that I have ever witnessed. Engaging, fun and creative, it was poetry in motion. I am not writing my full breakdown yet, as I think there was pertinent language used and it should provide all of the context you need:
Over 700 million users ~ 400M active daily buyers or 43M new users a day !
Comment - This represents only 40% of the population. Relative to mature markets, we still have huge room for growth.
Comment - Chinese consumers demand immediacy - See now/Buy Now
Comment - Many Chinese consumers went straight to smartphone and have never engaged directly with a website
More than most comments this last one is how we will be delivering new ecommerce within 2/3 years and also as I have mentioned through IoT and passive ecommerce. The opportunity is astonishing in China as was the user experience shown through video yesterday. I crudely tried to capture a video of the video - it doesn't fully do it justice but watch it. Most of us Western ecommerce retailers will try to crack this in some fashion - you will only do this with the assistance of partners and the cultivation of solid and trusted relationships. Start bridge building, educating and understanding now. The future is happening all around us.