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"For example, some traditional festivals in Vietnam often lead to sale surges in Dounan, and even influence market prices during the auction."

"For the Chinese market, I think it's significant to have some key elements for them, and one is food," said Rob Cunningham, vice-president of food and beverage in JA Resorts and Hotels. "I have been living in China for eight years and I know the relationship between people and food is so fundamental."

"First of all, the targeted customer group should be determined, and the portfolio of products should be differentiated so as to bring about new shopping experiences. Second, online retailers must do well in supply chain management, balance the online and offline prices of products, as well as consider cost structure to gain profits," Mo said.

"For example, Fonterra has been collaborating with Alibaba's Hema Fresh to sell fresh pasteurized milk. It also supplies raw milk to leading Australia baby and infant formula brand A2, which has been very popular in China," he said.

"Global companies have been keen to further dig into the market potential in China at the next level, as the country will continue to be the world's largest consumption power for many products, commodities and services, such as grain, industrial goods and healthcare solutions, for its ongoing consumption upgrading," said Chen Wenling, chief economist at the China Center for Economic Exchanges.