In the early 21st century, American’s growing middle class resulted in foreign organizations expanding their reach to penetrate the US market. Now with globalization a necessity it would seem that the next “global hub” will be the growing Chinese market which currently spots an estimated 300 million person middle class. As that number grows to its peak, Alibaba (the Amazon of China), is looking to offer its citizens foreign products to compensate for domestic resources.
eCommerce is the new million dollar market and it continues to steadily expand, allowing individuals to purchase items from thousands of millions away. According to Jack Ma, CEO of Alibaba, “The world is shifting from standardization to personalization.” This means that people will want things specific to themselves and if companies in countries like the US can offer that, their is a huge opportunity for them in the future.
While there’s no guarantee that every company on Alibaba’s platform will succeed the changing winds does grant an opportunity not seen elsewhere. America’s economic growth spurt has come and gone, and it seems that China’s is hitting its peak. For small businesses looking to offer products in an emerging marketplace, China is the place to be. Similar to how the Made in China brand took over America, the Made in America brand may have the same result in China.