Summary of What China Reveals About the Future of Shopping

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What China Reveals About the Future of Shopping summary

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When was the last time you called a cab, watched a talk show, ordered snacks, chatted with a friend and got your news fix, all from the same app? If you live in China you probably did that today, and you probably spent three times as long on these apps as an American would on Amazon. Alibaba’s Taobao marketplace and the “super app” WeChat provide users with all these services, and in return, users provide them with rich data that Amazon can only dream of. An expert team from the Boston Consulting Group highlights what the rest of the world can learn from China’s online marketplaces. getAbstract recommends these insights to readers who want to know how China’s “super apps” have seamlessly integrated the habits of daily life with online shopping.

In this summary, you will learn

  • How the online marketplace works in China,
  • How “super apps” seamlessly integrate online shopping with myriad other services, and
  • What American and European e-tailers can learn from Chinese online retailer Alibaba’s innovations.
 

About the Authors

Chris Biggs, Pierre Mercier, Angela Wang and Linda Zou write for the Boston Consulting Group, while Erica Matthews and Amee Chande provided insights from Alibaba.

 

Summary

Worldwide, people are doing more of their shopping online, and nowhere is this truer than in China. According to China’s National Bureau of Statistics, Chinese online shoppers spent $750 billion dollars in 2016 – spending more than US and UK online shoppers combined. And with forecasts predicting that individual consumers will continue to spend more and new consumers will flood the market as people in rural areas get access to the Internet, growth is unlikely to slow down in China. China’s rising middle class seems to have skipped personal computers and gone straight to mobile. Chinese shopping platforms are reaping the benefits, not just in revenues, but also in massive amounts of powerful data.

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