In a word, yes!
The Chinese eRetail market is the largest in the world. Depending on where you read, 2016 Chinese eCommerce spending was anything between $710-$750 billion. This figure is just under half of all eRetail spending made worldwide and it dwarfs the American equivalent spending of $450 billion during the same period.
The scary thing is, this market is not even close to being fully developed.
The above mentioned spending of over $710 billion is estimated to have been made by around 460 million Chinese online shoppers. We know that the population of China is over 1.3 billion, so the potential for further market penetration is fantastic.
Indeed, the amount of Chinese regular online shoppers is expected to increase by a further 200 million by 2020. This will be facilitated by a further improvement in domestic infrastructure, closer international trade ties (think post Brexit UK-China trade deals and the 1 million jobs Trump expects Chinese eCommerce spending to create in the USA).
The spread of affordable and improving mobile technology will also aid the increase in Chinese online spending, as will as the rising living conditions and disposable income of residents of traditional Tier 2 cities such as Wuhan, Chengdu and Hangzhou.
So what does this mean? Well, Goldman Sachs think this means that Chinese annual eCommerce spending will reach a massive $1.7 trillion by 2020.
Kaola.com is one of the leading Chinese eCommerce giants outside of the top two (Alibaba Group and JD.com) and it has pledged to spend $3 billion on European brands in the next three years. It is the eCommerce arm of NetEase, A NASDAQ listed Chinese internet services company worth $35 billion.
Let's start by confirming: Kaola is not actually a typo, it is the Chinese (pinyin) spelling for Australia's favourite marsupial. Whilst the cuddly tree hugger is characterised by being slow and lethargic, Kaola.com most certainly are not.
NetEase's gaming and technology credentials (Blizzard fans may recognise them as previous game development partners) have allowed Kaola.com to be one of the most innovative in terms aesthetics and website functionality. In terms of strategy, Kaola.com is aggressively winning market share by being the most Western centric of Chinese eCommerce leaders.
Australian (no prizes there), Korean, Japanese and American products currently occupy the bulk of Kaola.com's store, which, like all great Chinese eRetailers, offer everything from baby food, to handbags and Fairy Liquid.
Now Kaola.com have decided to plug the gap in its offerings of European brands and will go on a $3 billion spending spree to fortify the range of UK and European products it sells.
So now the only question is, now you know that NetEase didn't make the blunder of building one of the fastest growing eRetail giants on a typo, how will you compete for attention when Kaola swing by Europe with their (huge) shopping trolley?