By Farah Ashari
GOMBAK, 30 March 2018: Two factors were cited as the main reasons for Ali Baba’s great success in China – logistic and social shopping. A forum on E-commerce ecosystem in Hangzhou, China, aimed to share knowledge on the power of E-commerce which has influenced China’s citizens in purchase of goods, was told recently.
Best Technopreneur Award 2017 winner, Muaz Faris, shared his experience: œIn China, every item purchased online is delivered within 24 hours. Everyday, average users in China spend at least one hour to scroll items they want to buy, and in a month, about 500 million consumers purchased goods through online.
œSince everything is cashless, everyone become addicted to buy goods. A research conducted showed how E-commerce has given an impact on buying power in China, when people started to buy 25 pairs of shoes in a year through mobile e-commerce, whereas, before this, they only purchased about 3 to 5 pairs of shoes in a year, Muaz added.
The event held at the the Kulliyyah of Information and Communication Technology (KICT) on 28 March was organised by the Information and Communication Technology Students Society (ICTSS) in collaboration with Youth Business League, WowKawKaw and Mosha.
Apart from Muaz Fariz, there were two other prominent speakers at the forum: Javendra Kumar, President of the National Youth E-commerce Committee, Chamber of Digital Entrepreneurs Development, who is also the Founder and Managing Director of Javen Global Enterprise, and Putera Syamil Ismail, the Deputy Director of Youth Business League.
Meanwhile, Putera Syamil Ismail, shared his views on the profit that Ali Baba had gained when holding the double eleven (also known as 11/11) where the transactions that went through Ali Baba accounted to 10 billion in a single day.
He added, œAli Baba is leading most of the transactions through Ali pay because they have created the eco-system. This can be understood when a retailer wants to get goods from the supplier, they must go through Ali pay.”
Javendra Kumar highlighted the things that audience should learn from Ali Baba: œThey try to cut all the middle persons that could cause the price of goods to be expensive. They provide the goods from the manufacturer direct to end users.
The talk ended with Q & A session that received a lot of attention from the audience. ***