Hiroshi “Mickey” Mikitani, founder and CEO of the Japanese e-commerce giant Rakuten, says that the future of e-commerce lies in a “hospitality” model.
In his new book, “Marketplace 3.0: Rewriting the Rules of Boarderless Business,” he says online shopping will continue to evolve into a more personal experience. In an interview with TechCrunch, he explains his vision and how the cultural characteristics of the Japanese influence what he calls “social commerce.” Each transaction, he points out, even from the corner store, is marked by a profound desire to serve individual needs.
The social network was Web 2.0, says Mikitani, and now we’re coming up against a new wave of commerce and that’s social shopping and discovery shopping. That, he says, is Web 3.0.
Mikitani knows what he’s talking about—his company, Rakuten, has a $15 billion market cap and sells over 150 million SKUs in Japan. The brand also acquired Buy.com and e-book creator Kobo. The company employs about 10,000 people, who are all dedicated to the Japanese, personalized model of e-commerce, which he calls a hospitality experience.
Mikitani talks at length about his take on e-commerce in a 10-minute video you can see here.
