China's Ecommerce Global Expansion
Few segments represent the dizzying rise of China and its unique characteristics like eCommerce. In addition to breathtaking growth rates, online shopping is fundamentally altering consumer behaviour across both online and offline channels, from product research to purchasing.
Last week's announcement that America's second largest retailer, Costco, is launching in China just on Tmall further emphasises this. Whereas Costco is predominantly a physical big-box retailer in its traditional markets, it realises that China needs a different approach. The high cost of real estate, low car ownership, HR challenges and the popularity of online shopping in China has seen many large-format Western retailers from Home Depot to Media Markt fail.