The E-commerce Experience of Chinese Consumers

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Oct. 28 (Bloomberg) -- Gilbert Harrison, chairman & founder at Financo, describes the online shopping experience in China and explores the growth prospects of Baidu and overall retail in the nation. He speaks on Bloomberg Television’s “Bloomberg Surveillance.”

Consumer, do they use the internet the same way we do?

Do they shop?

E-commerce a big deal there?

It is very slow.

They still did not accept credit cards.

They come up to the house and give you the goods.

If they do not like the goods, they give it back to the person delivering it and do not pay for it.

It is slowly coming into its own . i am told it is about to change where credit cards can be used but has been a bit problem.

The chinese consumer is still looking for new goods.

And they are just now opening a new store that has had a phenomenal day.

You said you do not agree with the idea where you grow through acquisitions.

I think a good company has to grow organically and externally.

A few -- if you look at the bell curve, in order to go to the next stage, you need to buy something that is complementary.

He was talking specifically about the chinese market.

I think the chinese market has so far to grow and is so big that if you are producing the right product, the sky could be the limit in china.

Different than the united states.

What do we need to know about the retail expansion?

You are knee-deep in this?

-- you are need -- you are knee- deep in this.

The growth is not really china at all.

The department stores you see in beijing and shanghai are nothing more than huge buildings where every operation is leased and every retailer is running their own shop.

Will that change?

If lafayette is successful, that will change.

We've represented company that wanted us to put a 600,000 foot department store in.

The problem is basically every good luxury company is in china on the streets and all over the place.

If you walk the streets in shanghai, you will see every product and company you know.


You will want to catch bloomberg west all this week at 1:00 eastern.

Right here on bloomberg television.

We do not hear from robin lee much at all.

Getting you a data check.

Industrial production coming up.

Futures of that elevated.

A lot of unchanged there.

One dollar 38 for the

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