An online shopping website called Taobao run by Aribaba, whose CEO is Jack Ma, created a record at Nov 11, also known as China’s Single Day. China’s Single’s Day shopping blowout was the biggest online shopping event in history and this year brought in 35 billion yuan ($5.75 billion) in sales. The one-day event, which has drawn comparisons to America’s Black Friday shopping extravaganza and all online products are sold at 50% off.
As e-shopping is one of the benefits brought from the advent of the Internet, many people get profit from it. Everyone can be a owner of an online store. In addition, online store significantly decrease the fixed cost, such as rental cost and some incidental fees. Moreover, another fact that can cause great effect on traditional retail store is that online store can get easy access to customers’ preference. As long as owners analyse the data or records, they can easily get the information about what customers are really interested in.
On the other hand, the development of online business also triggers the development of physical distribution. Because of the absence of physical stores, importance of distribution is now being valued gradually. And thanks to its progress, more posts can be provided, which can alleviate unemployment issue.
www.ibtimes.com/chinas-singles-day-nov-11-shopping-extravaganza-overwhelms-postal-workers-photos-1466530