For ecommerce, the most important thing is trust.
Interpretation
Trust is crucial in ecommerce for fostering customer relationships and driving sales.
Jack Ma emphasizes the importance of trust in the ecommerce sector, suggesting that without it, customer loyalty and business success cannot be achieved. In an industry where transactions occur without in-person interactions, establishing a strong foundation of trust is essential for customers to feel secure in their purchases, ultimately leading to a thriving business.
In practice
A speaker at an ecommerce conference might use this quote to highlight the role of trust in securing repeat customers.
Hong Kong people say Hong Kong needs to preserve its uniqueness. I say Hong Kong's uniqueness is in its diversity, its tolerance of difference cultures... China does not want to see Hong Kong in decline. I have full confidence in its future.
If we are a good team and know what we want to do, one of us can defeat tons of them.
It's not that other countries steal jobs from you guys. It's your strategy. Distribute the money and things in a proper way.
Helping doing business easier, we choose the name Alibaba because it is a global company. It is founded in China, but it was created for the world.
In the beginning I just wanted to survive. For the first three years, we made zero revenue. I remember many times when I was trying to pay up, the restaurant owner would say, 'Your bill was paid.' And there would be a note saying, 'Mr. Ma, I'm your customer on the Alibaba platform. I made a lot of money, and I know you don't, so I paid the bill.'
Even if your competitor is still small in size or weak, you should take him seriously and treat him as a giant. Likewise, even if your competitor is massive in size, you shouldn't regard yourself as a weakling.
What makes us so often discontented with those who transact business for us is that they almost always abandon the interest of their friends for the interest of the business, because they wish to have the honor of succeeding in that which they have undertaken.
Profit is not the purpose of a business, but rather the test of its validity
If you can tune into the fantasy life of an 11-year-old girl, you can make a fortune in this business.
Our vision, which has not changed since the day the company was founded.
In the final analysis, finding a way to do clean business and not to pay bribes actually improves your bottom line.
Customers don't always know what they want. The decline in coffee-drinking was due to the fact that most of the coffee people bought was stale and they weren't enjoying it. Once they tasted ours and experienced what we call "the third place" ... a gathering place between home and work where they were treated with respect.. they found we were filling a need they didn't know they had.
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