The future of online shopping

At bol, we work every day to become the best platform for our customers and partners. Part of this is growing with the ongoing developments. When it comes to online shopping, China is a leader, especially in fashion. 

“Of course! I'm John Lin, former Lead Ecosystem Business Developer and Strategy & Business Developer at bol, and currently primarily a China speaker and innovation consultant. I was born and raised in the Netherlands, but my parents are Chinese. I grew up between two cultures and have made it my mission to bring the West and East closer together. I do this by inspiring people with great stories about the other side of the world, especially in tech and retail.”

“Almost everything is online. I used to go to the fabric market in Shanghai to have clothes made. I'd pick out fabrics, get my measurements taken, and could pick up my new garment within 5 days. When I wanted to do this again in 2019, the market was gone. Young and old, everyone orders online. You also see a new generation of physical stores. For example, Nike's flagship store no longer stocks shoes, but it does have a sports field where you can try them out. After purchase, your new shoes are delivered within 10 minutes. Want to buy makeup or try on clothes? You can test them digitally first, even in the store.”

“China is hugely ahead in online shopping. While China, the United States, and the Netherlands were roughly at the same level in 2012, with about 7.5% of all retail going online, China has now significantly pulled ahead. In 2022, nearly half of all purchases in China were made online, compared to only 19% in the United States and the Netherlands. Alibaba's revenue is even larger than the Gross Domestic Product of the Netherlands!”

“Data is used to determine what customers truly want. A good example of this is the company Shein. This is actually more of a data company than a fashion company. The company collects data from social media. Based on various data points, an algorithm determines the most popular items. These items are then immediately put into production, and the customer receives the item within a week. For fashion brands like H&M, Zara, and Forever21, this process takes about a month. They are essentially beaten at their own game. But this way of working is also used in the premium segment. For example, Alibaba does this in collaboration with Timberland to create sustainable items.”

“Social media and influencers play a very big role. The social media platforms are fully e-commerce-oriented. For example, you can order items directly from the livestream. When the influencer takes a break, they simply use their own avatar to take over the work for a bit. There is a democratization of fashion, where the power no longer lies with fashion houses but with influencers. There are even platforms in China, such as Ruhnn, that offer 'fashion production as a service' for influencers. It's easier than ever to start and sell your own clothing line. The associated supply chains are also very efficient. There is almost no stock, and everything is calculated based on data. Within a week after a livestream, the customer can already have the items at home.”

No, online and offline actually reinforce each other. Especially when you look at the luxury segment. Offline, you create an experience, and ultimately the shopping experience continues in the metaverse. A great example is Burberry. In collaboration with Tencent, the parent company of WeChat, Burberry wanted to redesign its physical stores. The stores have almost no stock, the fitting rooms are equipped with augmented reality (AR) where you can find more information about the items, and price tags have a QR code that leads to a destination where you can see how to combine the items. You can even buy NFTs of items. Indeed, a digital version of a scarf that your avatar can wear. All this technology is built by the platforms and can be used by brands.”

At bol, our goal is to be the starting point for clothing shopping in the Netherlands and Belgium by 2026. During the level-up fashion event on May 22nd, we shared our fashion innovations with several fashion brands. Want to know more? Read the key takeaways. Or watch the aftermovie for an impression of the event.