Who won the E-commerce war?
Having spent time in China, the e-commerce ecosystem there is a lot more multi sensorial (Point 4 below) than in West or even in India.
China’s retail architecture is based on the pillars of Social Commerce and Omnichannel.
Language is a big issue. I believe that the e-commerce innovations in China will be copied with local flavor in each country rather than a direct copy-paste. Either way it is a playbook worth noting.
Some highlights from Economist’s lead story on E-Commerce wars
- Today, China’s e-retail market is worth $2Trn (greater than US AND Europe combined!)
- Future of e-commerce is in China, NOT West
- China is able to blend e-commerce, social media and is also at frontier of regulation (though it is tempting to see it as a brutal Communist party power – they are enforcing interoperability and preventing e-commerce companies from penalizing merchants who sell goods in more than 1 place online)
- Online shopping platforms in China = Digital payment + Group Deals+ Social Media + Gaming + Instant messaging + Short form video + Live streaming celebrities
- Multinationals such as Unilever, L’Oreal and Adidas make more revenue in Asia than in America. Guess where do their bosses turn to see the latest in digital marketing, branding and logistics
