Baidu, Alibaba, and Tencent are playing a role in breathtaking industry transformation and the West risks being left behind, writes Scott McBride of IPG Mediabrands
China has long been a nomadic figure in the minds of many marketers, and all too often we in the industry are blindsided by the West when looking at trends, technology inspiration, and new ways to drive consumer engagement.
In fairness, the country may not have evolved in as linear a fashion as the West, skipping out steps such as desktops and dial-up internet to name but a few.
Nevertheless, infrastructure across telecommunications and banking have evolved more rapidly and more recently than was seen in the step change evolution in the West.
As a result they have evolved to meet the needs of today’s consumers in ways in which the West lags woefully behind. For example, you can use WeChat Pay for your morning coffee or Alipay for your iconic yellow cab ride dash across Manhattan. Simply put, China has given themselves and the world a consumer-centric approach that doesn’t simply ask them to fit in with pre-historic payment methods.
This coupled with the precipitous accumulation of personal wealth and urbanisation has propelled China to being a world leader in communications, digital and engagement technology.
