Why the 2nd generation CEOs from Shein, Pinduoduo and Bytedance broke into the US market

Hear Shai Oster explain why Amazon in the US has paved the way for the 2nd generation China e-commerce companies such as Temu and Shein to win in the western markets.

"Amazon paved the way for Temu and Shein, and the rise of TikTok paved the way for everybody.  What Amazon taught Americans is that brand names don't matter.   Now, if I click on Amazon and try to find a brand name, it spits out all the Chinese, like alphabet soup, and gobbledygook brands first. That's partly in response to consumer demand, but I think Americans learned that it's all coming from China, so maybe the brand name doesn't matter. And you do see that Gap and all these traditional retailers have really struggled. Amazon planted the seed for the consumer to understand that brands don't matter, price does. It's true also for Walmart. No frills. Costco. So that's one thing that didn't really exist when Alibaba first came. That's something that I think happened in the last decade and has been accelerated in the past five years. The movement away from brand loyalty. And some of the brands did that to themselves because they were trying to chase a, they were producing lower quality goods and people wise up. The second thing is that..."

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