Can you imagine a population of 13 billion people right in front of you? Overwhelming right? But as of 2017, the total amount of users on Facebook, after 13 years of establishment, has finally reached 20 billion users. Unfortunately, due to the media restriction issues, Facebook forsake the social media industry in China, which is a population of 13 billion people. That’s 67% of the Facebook users.
Can you imagine the consumption level of a 13 billion population? On November 11, 2017, Taobao, which is an online, shopping platform, dealing 14.8 billion transaction and 259 billion dollars in USD. In comparison, in the same week of Black Friday in United States, transactions totaling up to 50 billion USD. This goes to show that China truly deserves the first place in worldwide GDP (PPP) ranking.
However, there is much more than that beyond these numbers, such as the competitiveness of the Chinese market. Using Uber as an example, which is the primary peer-to-peer transportation method in the States, was brought into China in 2016. But, if you take a look at the industry in China, there’s a large variety of peer-to-peer transportation, such as Didi, Dida, Caocao, Meituan, Kuaidi and much more, where Uber hardly stands a chance in competing
Therefore, do not belittle of the competitiveness and possible obstacles of the Chinese market. Go beyond the expectation for comprehensive research, market evaluations, business partners, and the productions because every decision is possibly a diverging point set up for success or failures.