Please click and read this disclaimer if you wish to continue with the contents below.
Decentralized ecommerce Saas are still babies compared to established centralized ecommerce giants in China, like Tmall and JD. China Youzan, one of the leader in decentralized ecommerce(Shopify of China) projected to hit 100bil RMB in GMV for this year. That amount is equals to the amount of GMV TaoBao makes during Singles Day. Market cap for China Youzan is also tiny compared to JD. 4.2bil USD vs 132bil USD. They are babies but are currently growing very rapidly. China Youzan for example is growing their GMV at a rate of 90% year on year. The reason for the fixation of decentralized Saas is primarily due to the preference for private traffic in China. Dan Zhang who wrote an article in Adobe Analytics explained it best. You can read the full article here.