China is among the countries that have the biggest potential for development of ecommerce. In western countries, buying goods online is already very popular and most of the citizens have access to broadband internet and necessary knowledge how to use it for shopping. In China, hundreds of millions of people are discovering online shopping.
In 2014 alone, the Chinese ecommerce sales have grown 63.8%, which is almost two times more than in India. While it is clearly visible that BRICS countries made it to the top of the list, China has the biggest potential for further growth of ecommerce and creates a huge opportunities for related investments.
A typical internet user has several habits that he formed during the years. If we want to search for information, we usually open Google even without thinking. The corporation from Mountain View has practically monopolized world’s internet search market, nobody remembers about Altavista, Bing is more often mocked and satirized than actually used. There is only one country which is exceptional: China, of course. There, a home-grown Baidu has 60% of market share, a number that outdistances Google and other competitors.
The history of Baidu starts in 2000. The founder of the company, Robin Li, somehow contributed to the creation of his greatest competitor: it was Google which used his patent to create page indexing mechanism called PageRank. When Li realized how big is the success of Brin and Page， he no longer hesitated – and this is how Baidu was founded. At the beginning, the company was struggling to survive, but the Chinese internet developed so fast that Baidu jumped on the bandwagon. The company was not sold to some influential and strong market player, as happened to many others, but it went public on NASDAQ – doubling the value of market shares during the years 2005- 2007.