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Chinese millennials are a new breed of consumers who will shape the future of commerce. They are very interested in consumption and excited by it. They constantly live-stream fashion shows on their phones and discuss about new trends. Photo credit: Jing Daily Yet, they are also torn between the old and new. They […] Iowa Gov. Terry Branstad shakes hands with Chinese President Xi Jinping before a meeting at the Great Hall of the People on April 15, 2013 in Beijing, China. (Photo by Andy Wong – Pool/Getty Images) One never knows whether President-elect Donald Trump means what he says or says what him means. After his […] This short video from Alibaba is a great summary on how China is creating the future of commerce.
During the 2015 Tmall 11:11 Global Shopping Festival gala in Beijing on November 11, 2015. (Photo credit: STR/AFP/Getty Images) Alibaba is counting down to its annual shopping bonanza: the Singles Day shopping festival on November 11. Since it was launched seven years ago, it has become the largest shopping day on the planet. […] A driver uses his smartphone to pay the highway toll by way of Alipay in Hangzhou, China on September 21, 2016. (Photo credit STR/AFP/Getty Images) Ten years ago, eBay lost the battle to conquer China’s e-commerce market to small upstart Alibaba. Ten years on, China’s e-commerce market has grown more than tenfold, and […] Recently, American retailer Macy’s announced that it will launch an e-commerce site in China in 2017. Will Macy’s follow the footsteps of other American giants such as e-Bay, which failed miserably, or Amazon, which couldn’t gain much footing in China? Shutterstock For Macy’s, or any other retailer large or small, the Chinese consumer […] Xiao-jie is 21. A senior in college, she is one of six million people who traveled overseas during China’s Golden Week holiday (Oct. 1-7). Japan was her destination. The trip cost about 10,000 yuan (about $1,500), which her parents paid for. As the only child in the family, Xiao-jie gets pretty much everything she wants. […] See it as a one-of-a-lifetime opportunity, Chinese e-commerce companies and global brands have sped up innovation to meet demands of Chinese consumers. […] Just as Starbucks created demand for its coffee, it can very well enjoy even greater success with tea in China. […] The Economist Innovation Summit 2016 was held on Sept. 6 in Hong Kong. I was honored to speak at the event. While attending the event, I live-tweeted highlights from the event. The following tweets have been getting many impressions and retweets: Markus Steilemann: Innovation is about invention that makes money, and China is doing […] |