Summary of How China Is Changing the Future of Shopping

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  • Visionary
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According to a recent study, the average Chinese consumer buys 25 pairs of shoes annually. Fueling China’s shopping boom are well-integrated mobile ecosystems that facilitate spontaneous, convenient and social shopping. In an eye-opening presentation, retail expert Angela Wang explains how China is leading the way in creating new, flexible business models. Although she fails to address concerns about unfettered consumerism and environmental sustainability, Wang provides a fascinating glimpse into everyday Chinese shopping habits.

About the Speaker

Angela Wang is a retail expert at the Boston Consulting Group.

 

Summary

Mobile shopping has fueled the rapid expansion of e-commerce in China.

E-commerce is growing twice as fast in China than in the United States, and the mobile revolution is largely responsible for that growth. It took just five years for Chinese shoppers to embrace mobile as a go-to venue to do their shopping.

Important enablers of China’s mobile commerce revolution are the country’s two leading technology platforms, Alibaba and Tencent. Each platform is an integrated digital ecosystem that allows users to shop, make payments, communicate with their friends, catch up on the news, play games, and watch movies and videos without ever leaving the host site. Combined, the two conglomerates control 90% of China’s e-commerce and 85% of its social media and internet payments. Three preferences – spontaneity, convenience and social shopping – are transforming...


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