1234567On Thursday November 14, 2013, Professor Rhodes invited a NYU graduate, Mr. David Panitz, to explain to us what his business is and how it works. Mr. Panitz is the Senior Vice President of Bleum Commerce. The company describes itself on their website as an organization “that is committed to delivering highest-quality, mission-critical applications through offshore development centers that become an integral extension of our clients’ IT organizations. Bleum Commerce provides a range of services including application development, support and maintenance, testing and legacy system modernization, and product development to clients in North America, Europe and Asia-Pacific”.
1234567Mr. Panitz described the company as “a complete Managed Commerce solution for the China marketplace. We drive e-commerce and multi-channel commerce to connect western brands to the Chinese consumer”
1234567In short, Bleum Commerce helps companies enter the Chinese market, which can be a pretty complicated process that needs assistance and guidance for companies that are expert in it.
1234567There are so many reasons why China is a very exciting opportunity for retailers. By 2016 China will be the biggest eCommerce market in the world! The disposale income will double.
In addition, the middle-class is growing in China increasing the overall average income, and consumption.
The overall GDP growth outpaces Western Countries, reasons to that is their growing consumption driven growth.
1234567Also the trend of Multi-Channel is growing. 3/4 of Chinese consumers prefer to shop online. Which equates 511 million Chinese that shop online. imagine that that massive number is only 37.82% of the population (1.351 billion).
1234567Another reason to invest or enter the Chinese market is the the increase in demand for foreign goods. The Chinese are asking for Made in the USA stamped products. US brands will work for in the Chinese market, because of the growing consumer base and urbanisation in China. No need to ulter or change the store experience. They want to have the same experience they had when they entered the Paris boutique.
1234567Social media plays a huge effect worldwide on eCommerce, in China specifically. As shown in the bellow chart, Chinese are the most social online shoppers in the world.
1234567In the end, whatever market company decides to enter, it must look at where in the map people are searching the most about it, and where in the map people are talking most about it, and most importantly where in the map people place orders from it.