It’s a common scenario: Asians living abroad crave—but can’t find—the food products they know from home, such as hot sauces from China or rice snacks from Japan. With the number of Asian immigrants to the United States growing—Asians are poised to be the largest immigrant group by 2055, according to Pew Research Center projections—Alex Zhou identified an opportunity. He launched an e-commerce site, Yamibuy.com, to meet those consumers’ needs.
The site initially specialized in selling food products from China to Chinese consumers living in the United States, and it has since expanded to include products from other Asian countries.
Since its 2013 launch, the retailer’s sales have at least doubled every year. It generated $50 million in online sales in 2016, which helped it recently raise $10 million in venture funding.
Zhou’s story demonstrates the power of e-commerce and the unique ability…
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