China has one of the most advanced e-commerce economies in the world. It boasts the world’s largest e-commerce market, with a volume of US$1.94 trillion in 2019. That’s more than thrice the US e-commerce market, which ranks second. Much of that volume was fueled through China’s largest e-commerce player, Alibaba Group Holdings Limited (NYSE: BABA). The e-commerce giant has already seen the price of its US-listed shares close to triple from the IPO level of US$68 in 2014. In this article, I take a look at some of the major trends fueling Alibaba’s growth. A powerful network effect Alibaba is the biggest player in China’s e-commerce space. However, that does not mean that it has run out of room to grow. China’s e-commerce market is still expected to grow by double digits well into the mid-2020s. Alibaba is the undisputed leader in 2019, taking in 55.9% of retail e-commerce sales, with...