China has surpassed Western countries (and most of Asia) handily when it comes to ecommerce. Recent statistics show that 52% of the country's retail sales will be transacted digitally, through some form of ecommerce… and this share is only expected to GROW.
Let me explain… while places like the US were early pioneers in ecommerce, they simply couldn’t overcome legacy systems and deeply engrained consumer habits to scale at the rate of China. “Scale” is embedded in Chinese culture.
Chinese consumers aren’t just open to new technologies, they embrace them… often “leap-frogging” to the next wave of technology or upgraded lifestyle infrastructure the second it becomes available.
Want an “apples to apples” comparison? Hong Kong is right next door, but is so far behind in adopting even basic or life-improving technology like "mobile payment."
There is a distinct competitive advantage in having such an adaptable, experimental, and open minded population.
Think I’m wrong?
Comment YES and I’ll send you the eMarketer Insider Intelligence report on Social Commerce Forecasts 2021 (How a Trend “Made in China” is Shaping Up in the US) so you can check the data for yourself.