Gateway 2017 in Toronto was a capacity event at the Enercare Center spanning about a half-milling square feet of booths, activations, meeting spaces, 3 stages, a live broadcast studio, major areas for company verticals and partner exhibition areas. All designed to host Jack Ma, Alibaba’s CEO and Exec Chairman, Justin Trudeau, PM of Canada and a few thousand exhibitors and attendees.
The goal: connect North American companies with the fastest growing consumer market in the world. With a middle class the size of the entire United States of America, the buying power of the Chinese market is astounding. By 2020 Chinese consumers are expected to outspend most of Europe. Alibaba, NASDAQ; BABA. (worth $500B, June 2018) is the global juggernaut in both importing and exporting into China and is eager to connect hungry Chinese consumers to desirable premium North American goods. To do this they hosted two major North American events in 2017 to highlight the vast and ever-growing opportunity to US and Canadian companies
While China’s consumer spending is expected to grow 55 percent from 2015 to 2020, consumer spending in the U.S.—the mother of all consumer cultures—will expand by 21 percent over the same period. — Alizilla.
According to recent data from Analysys International Enfodesk, Alibaba’s business-to-consumer (B2C) ecommerce platform Tmall still controlled the largest share of retail ecommerce sales in China in Q2 2017, at 51.3%. — Emarketer