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In the past few decades, Asia has witnessed tremendous economic and technological growth. A rapidly growing middle class has fueled technological adoption and information consumption.
The rapidly developing landscape has given rise to “disruptors” championed by tech companies across the continent like Alibaba, Tencent, Flipkart and Grab. As the label implies, disruptive technologies are innovations that radically change the game, challenging the way things are done that they redefine the market, for instance:
- Online Shopping and Virtual Payment
The ability to buy and sell products online has changed the landscape of the retail industry. More and more people who have internet access and a mobile device today prefer shopping online over visiting a brick-and-mortar store.
Most people may have already heard of Alibaba, Asian’s biggest player in the industry putting the firm in fierce competition with eBay.
The Alibaba´s owner and his team cobbled together their own easy-to-use free online payment system. The payment method, known as Alipay, became his single greatest inspiration and now dominates 50% of China’s online payment, spawning imitators throughout the region. Alibaba now expands its dominance globally.
The success of these endeavours resulted from their willingness to understand and adapt previous e-commerce models to the local setting.
Asian market always is ahead of the inventions, now paved the way to shop online, in that sense, we should be aware what are they developing and take advantage of those amazing groundbreaking technologies.
- How the inventions in Asia can approached to our daily life in Mexico?
Welcome to this activity created by Junior Advisor Ms. Areli Gallaga from Reforma Branch. Take note of all the pink words, read the text, watch the video and answer the question in the comment section below.