Jack Ma, the founder of Alibaba, ranks as the world’s 18th richest man and 1st in Asia. He is worth $37.4 billion, according to the Forbes real-time billionaires list. His formula for success?
“I’m not a tech guy. I’m looking at the technology with the eyes of my customers, normal people’s eyes.”
Tapping Into New Market Potential With Alibaba…Wanna Be Startin’ Somethin’!
On Sept. 8, at the party commemorating Alibaba’s 18th birthday, the Chinese e-commerce mogul, paid an ambitious tribute to the ultimate showman – Michael Jackson.
He has a reason to celebrate his company’s 18th birthday in style. The company’s stock has endured a rally since January 2017, and its valuation recently passed the $400 billion mark—putting it just a short distance behind Amazon. Alibaba’s Taobao and Tmall e-commerce sites offer everything via distributors; from clothing and electronics to food and services on the platforms.
“By year 2035, we will be the fifth largest economy in the world,” Jack Ma says of Alibaba.
A couple years ago, Ma outlined Alibaba’s strategy during a speech at the Economics Club of New York, according to company president Michael Evans.
“Our (Alibaba’s) U.S. strategy is not to sell products to U.S. consumers. Our U.S. strategy is to connect retailers, brands and small businesses with the Chinese consumer,” Evan said. “Our edge is a massive base of consumers in China, more than 500 million of which are on our platform. As that consumer base moves in the middle class, one thing we know, based on our data and activity on our platform today, is that they are more and more focused on buying high quality American products.”
Alibaba’s ‘New Retail’ Concept: Black Or White?
Alibaba Founder and Chairman Jack Ma coined the term “New Retail” in a letter to Alibaba’s shareholders in October last year. Ma said, “Pure e-commerce will be reduced to a traditional business and replaced by the concept of New Retail―the integration of online, offline, logistics and data across a single value chain.” We believe that this is very much how next-generation commerce will look globally, with large retailers and niche category specialists leveraging technology to provide an integrated service with the consumer at its core.
The “New Retail” concept adopts advanced cloud computing technologies, including big data and artificial intelligence (AI) to study the data generated from various aspects of the brands. This will greatly improve the online and offline buying experience for consumers.
Gain Control Over Your Product Content..Don’t Stop ‘Til You Get Enough!
You may or may not sell your products on Alibaba platforms directly but your products may be currently sold by distributors on Alibaba. This is why it’s in your utmost interest as brand owner to gain back control over the quality and comprehensiveness of the product content used by the distributors selling your products.
Alibaba and 1WorldSync Call For Trusted Content
To help Alibaba in their quest for an improved product experience driven by brand identity and quality standards, they brought 1WorldSync, the trusted global source of authentic product content, on board. The goal is to improve the accuracy and trustworthiness of product content and therefore protecting brands against counterfeiters.
Learn more about how to tap into new market potential with Alibaba!
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