Zhang Yong, Alibaba's CEO, speaks at a launch ceremony of 'Taobao Creation Festival' in Hangzhou, East China's Zhejiang province, June 30, 2016. (Photo provided to chinadaily.com.cn)
Alibaba's online shopping arm Taobao is currently building a platform where young innovators can share ideas with each other.
"Taobao is not only an online shopping platform anymore," Alibaba's CEO Zhang Yong said. As more young users post comments and create new content on the platform, Taobao is becoming an online community.
Young people are the main force behind startups, and spending on Taobao. Currently, 80 percent of Taobao users are aged under 35, one third of them are below 24.
In order to attract more young customers and encourage young startup innovators to realize their business dream on the platform, Taobao will hold its first "Creator Festival" in Shanghai from July 22 to 24.
According to Taobao, the festival will have three main themes: technology, arts and originality to show original designs, cutting-edge gadgets, and fashion trends and high-tech ideas.
"Buy+" or "Buy Plus", a new online shopping experience that uses virtual reality (VR) technology, will also allow visitors to try VR during the three-day event.
Photographs are no more the only way to display products on Taobao. Some sellers are using VR to sell their products. In the future, more 3D and VR technologies will be used on Taobao.
GM lab (Gnome Magic Lab), Alibaba's research lab focusing on VR and AR (augmented reality), has already started operating, and will provide technical support to Taobao.
