Shopping Revolution

A huge shopping revolution is happening in China right now. Shopping behaviours, and also technology platforms, have evolved differently than elsewhere in the world. For instance, e-commerce in China is soaring. It's been growing at twice the speed of the United States and a lot of the growth is coming from mobile. Every month, 500 million consumers are buying on mobile phones, and to put that into context, that is a total population of the United States, UK and Germany combined. But it is not just about the scale of the e-commerce, it is the speed of adoption and the aggregation of the ecosystems. It took China less than five years to become a country of mobile commerce, and that is largely because of the two technology platforms, Alibaba and Tencent. They own 90 per cent of the e-commerce pretty much the whole market 85 per cent of social media, 85 per cent of internet payment. And they also own large volumes of digital content, video, online movie, literature, travel information, gaming. When this huge base of mobile shoppers meets with aggregated ecosystems, chemical reactions happen. Today, China is like a huge laboratory generating all sorts of experiments. You should come to China because here you will get a glimpse into the future.