Provide a range of local delivery methods (time of delivery is crucial here).Enabling local payment methods (like PayU in Poland, Sofort in Germany or Cash on Delivery in Russia where it can account for 95% of your orders).Translating the whole website into the local language.What he stressed much is that when you expand into a new market, you need to focus on local adaptation, which includes: Roger Graells, Global Online Sales Director at MANGO, shared his insights on the ecommerce challenges and opportunities that brands face when expanding into new markets. MANGO is a European fashion brand that operates in more than 105 countries and sells online in more than 80 of them. Local adaptation is the key to global expansion Check your inbox to confirm the subscription. To get a grip on Chinese innovation, I would advise you to subscribe to 996 blog (you may also try Walk The Chat blog to get a glimpse into a completely different type of e-commerce platform). The pace of China is so fast that Hans Tung’s presentation was not up to date the moment he finished it. Zia Wigder summed up Hans Tung’s presentation: Uber was founded in 2009 and is now worth $51B while its Chinese counterpart Didi which was founded three years later has already hit a $56B valuationīingoBox expanded into 30 cities in just 6 months and now there are more than 300+ Boxes in operation. She says, “I bought paintbrushes at Amazon, and it recommended me more paintbrushes, while Alibaba, after the very same purchase, recommended me experience – a painting class.” Compare the level of recommendations at Alibaba and Amazon as described by Deborah Weinswig, Founder & CEO at Coresight Research.BingoBox operates more than 300 cashier-less stores around China (compared to a single store run by Amazon Go).What is even more fascinating is that China is not only huge but also incredibly fast at implementing innovation. (According to Hans Tung, Managing Partner at GGV Capital, for the past 40 years, China has added a city of New York’s size every single year)Ĭhina with its population 4 times the size of the US is leading the way in payments and e-commerce There are more than 160 cities in China with a population of over 1 million people.There are 98 Unicorns in China (compared to 106 in the US).China’s mobile payment volume is 10 times that of the US.China accounts for 42% of worldwide e-commerce transaction value.Half of the world’s largest public internet companies are located in China.I happened to attend 2 sessions which covered either the Chinese market or a company from this country, and I was literally blown away by the numbers.Ĭhina is huge, and these numbers say it all: New retail brands are being built online first.Leverage your customers to drive traffic and engagement.Local adaptation is the key to global expansion.
Here’s a quick list of 5 “Aha!” Moments From Shoptalk 2018: What I would like to share with you are my “5 Aha!” Moments that I had during these 4 busy days. However, as Peter Cahil from Voysis put it:Ĭurrently, this way, you buy products you don’t even care about, e.g., toilet papers and detergents.īut as stated, you will read about these everywhere else.
For instance, voice-activated ecommerce is most probably going to be a revolution similar to mobile but happening quicker. Instead, keep them in mind and watch them. Though these hype terms come and go, you shouldn’t ignore them. But… I’m not going to dive into that since you can read about these literally everywhere.
You all know what is hot in the industry right now: AI, machine learning, conversation commerce and so on. They position themselves as the World’s Largest Conference for Retail & Ecommerce, and truth be told, that is no exaggeration.
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