“In other countries eCommerce is a way to shop, in China it is a lifestyle.” – Jack Ma, founder of Alibaba
With the excitement building for Alibaba’s Initial Public Offering (IPO) tomorrow (it’s expected to be the largest IPO in US history), I thought it might be time to start developing a better understanding of the world’s fastest growing eCommerce market.
One of the great things about eCommerce is the opportunity to tap a much larger, potentially global, market.
But tapping the global market means contending with, and understanding, a diverse range of factors.
These factors influence the popularity and prevalence of eCommerce in particular markets. For example, some countries may have very favourable regulations, tax and customs practices, logistics and financial infrastructure and levels of income.
Others may have high levels of technology adoption and a preference for buying on mobile devices (mobile commerce).
Others still may rely heavily on the opinions and thoughts of family and friends, emphasising the importance of social commerce.
While we understand that considering all of these factors can be overwhelming, we found a couple of reports last week that might help you better understand at least some of the intricacies of the global eCommerce market.