At last count, China had nearly 538 million internet users–a number that is growing everyday. Out of these 538 million, 194 million have shopped online. And this number is also growing everyday. As a result, e-commerce is one of the hottest sectors in China right now. The Chinese customer is demanding–and unforgiving–and competition between players is cut-throat. As a result, China’s e-commerce companies are seeking innovative ways to differentiate themselves. And so, China’s e-commerce sector has become fertile ground for out-of-the-box thinking and experimentation.
In 2007, Gang Yu, formerly a professor at McCombs School of Business, University of Texas, Austin, and his friend and partner Liu Junling decided to set up China’s first large-scale online supermarket. In mid 2008, Yihaodian (The Store Corporation) was born. In the first three years of its existence, Yihaodian grew by an astounding 19,218%, winning the number one slot on the Deloitte Technology Fast 50 rankings.
At Yihaodian, the academic in Yu has been hard at work, testing out new ways of expanding the business, be it innovations in how the customer interfaces with the site, or filing patents in warehousing and logistics.
In October, multinational retail giant Walmart picked up a 51% stake in Yihaodian.
In Part 1 of an interview with CKGSB Knowledge, Yu elaborates on China’s vibrant e-commerce sector and the company’s experiments in mobile commerce and social commerce.
Enjoying what you’re reading?
CKGSB Report
Related Articles
Our Programs
Scaling Innovation: AI and Digital Strategies for Business Transformation
Global Unicorn Program Series
This program is designed to equip senior executives with the strategic insights and tools necessary to lead in this transformative era.
LocationNew York, USA
DateJune 23-27, 2025
LanguageEnglish
Global Unicorn Program: Scaling for Success in the Age of AI
Global Unicorn Program Series
In collaboration with the Stanford Center for Professional Development (SCPD), this CKGSB program equips entrepreneurs, intrapreneurs and key stakeholders with the tools, insights, and skills necessary to lead a new generation of unicorn companies.
LocationStanford University Campus, California, United States
DateSeptember 29 – October 3, 2025
LanguageEnglish
Emerging Tech Management Week: Silicon Valley
Global Unicorn Program Series
Co-developed by CKGSB and UC Berkeley College of Engineering, this program equips participants with proven strategies, cutting-edge research, and the best-in-class advice to fuel innovation, seize emerging tech developments, and catalyse transformation within your organization.
LocationUC Berkeley
DateNovember 2-7, 2025
LanguageEnglish
Asia Start: AI + Digital China Expedition
Asia Start is a 5-day immersive field learning program across Shanghai, Hangzhou, Guangzhou, and Shenzhen. It explores how AI, digital innovation, and Asia’s disruption model are shaping new market opportunities, offering a practical perspective on scaling businesses in the region.
LocationShanghai, Hangzhou, Guangzhou, Shenzhen
DateNovember 17-21, 2025
LanguageEnglish
Smart Cities, Fintech, and Alternative Energy for the Global Future
Global Unicorn Program Series
This program, in partnership with Columbia Engineering, is a transformative initiative designed to empower civil leaders and businesses in smart city development, fintech, alternative energy, and new energy sectors.
LocationDubai, UAE
DateDecember 15-19, 2025
LanguageEnglish
Opportunities in the Disruption of Traditional Industries
Global Unicorn Program Series
The Global Unicorn Program in Disruption of Traditional Industries – presented jointly by CKGSB and University of Sydney – will emphasize Australia’s distinctive contributions.
LocationSydney, Australia
DateFebruary 22 - 26, 2026
LanguageEnglish
AI-Driven Healthcare Innovation Program
Global Unicorn Program Series
The Artificial Intelligence (AI)-Driven Healthcare Innovation Program stands at the forefront of addressing the critical need for innovative healthcare solutions powered by artificial intelligence.
LocationJohns Hopkins University, Washington, D.C.
DateSummer, 2026
LanguageEnglish
