Many people think that Taobao is the "online Walmart," but that's not actually the case. Whether in terms of product categories or business models, there are significant differences between the two. Currently, apart from transaction volume where Taobao still has a bit of a gap compared to Walmart, in terms of the diversity of products, the impact on physical markets, and the ability to create new industrial chains, Taobao is in no way inferior to Walmart.