Founded in 2003, Taobao means "search for treasures" and it aspires to provide consumers with a vast assortment of goods and services as the “Universal Taobao.” As China's leading retail e-commerce platform, Taobao meets all aspects of consumer needs, directing users to various marketplaces, channels, and features within the Alibaba ecosystem. Through the top-level traffic funnel of the Taobao app, consumers can access fashion, handicrafts, local specialties in Taobao stores, quality brand products in Tmall flagship stores, daily necessities and FMCG in Tmall Supermarket, imported products in Tmall Global, and idle goods in Xianyu. "Shopping on Taobao" has become part of Chinese consumers’ daily lives and is especially popular amongst the young and high-purchasing power consumer segments. They shop on Taobao, discover new trends, and interact with their favorite merchants and KOLs through livestreaming and short-form videos.