If You Miss The Opportunity Of Selling Your Products To China, You Will Miss The Future
"If you miss the opportunity of selling your products to China, you will miss the future" - Inspirations from Jack Ma Speeches in Detroit, USA
The Chairman of the Alibaba Group China Jack Ma was on a promotion tour in Detriot, USA last week. He gave a speech for more than 3000 US enterpreneurs and an interview with Charlie Rose. My team and I followed both of the very inspiring speeches. We edited the essential contents to share here and highlighted the messages which we think are important and worth reading.
"Small and middle-size business, you have nothing to lose. The only thing you have to lose is the opportunity and the future." said Jack Ma, the co-founder of e-commerce giant Alibaba and one of the world's wealthiest men to his roughly 3,000 listeners at the Gateway 17 conference on June 21, 2017.
Along with the inspiration Ma sprinkled some startling statistics to capture the opportunity in China: 200 tons of milk powder were sold within 5 minutes, and 2 million lipsticks with less than 10 minutes. $ 17.8 billion revenue was generated solely on Alibaba platforms within a shopping carnival day alone – thanks to the 200 billion consumers who shop every day through smart phones and mobile ends.
“In the past thirty years, USA domestic consumption was the engine of the global economy. And I told people at that time, if you miss the opportunity of selling your products to the world, to the USA, to Europe, you might miss the chance,” said Ma in a chat with acclaimed interviewer Charlie Rose. “Today I want to tell people that if you miss the opportunity of selling your products to China, you will miss the future.”
With a population of 1.4 billion and more than 300 million middle class, China is becoming the largest consuming market in the world. “How many cities in the United States have more than 1 million people? 10. How many of these cities in China? 102. 1 million population in China is like a small village.” said Ma. In the next 15 years, China is going to have 500 to 600 million middle class, and the demand of them for high-quality products and services will be huge. “Please see China as an opportunity,” Ma emphasized. Huge market, advanced paying channels, convenient logistics and a 1.4 billion potential customers – “the numbers are scaring, but think about what does it mean” Ma emphasized.
But selling products in China is not as simple as entering the market and raking in cash simply because you’re foreign. Foreign brands must either already be known by Chinese consumers or offer something genuinely differentiated that a Chinese company cannot produce — because if they can, it will likely be much cheaper, ship much faster, and be just as high-quality.
“If you come to China and you’re not a brand that people are waiting for, or going abroad and looking for… when you get here, you’re starting a new brand from scratch,” Ma adds.
The world is changing, and the way to do business is changing, too. Internet is the opportunity for small and medium enterprises to participate in global trade.“Please use the Internet, please do business with China, please learn and find the people who smarter than you are.” Ma summarized at the end of the speech.
If you have time on your hand, I really recommand you to see the speeches in the full versions. His ideas about enterpreneuship, globaliozation and future business are truly refreshing and inspiring.
Speech Detroit: https://www.youtube.com/watch?v=F3N0EEqt8k0