Alibaba IPO Just the Start for 'China's Super Consumers'

The Alibaba IPO is the perfect symbol of the emergence of the Chinese consumer because it finally realizes the dream of 1 billion shoppers, said Michael Zakkour, author of 'China's Super Consumers'. Zakkour said Alibaba touched nearly 75% of all e-commerce transactions last year, adding that Chinese consumers love brands like Coach and Michael Kors because they are 'conspicuous consumers' as well. He said Chinese consumers also are huge buyers of Apple products because they love the technology and what the brand represents. Finally, Zakkour said that more Chinese citizens are travelling abroad so they are learning to love western labels.