1 Day, 35 Billion

Taobao, one of the five companies founded by Jack Ma, recently reached an astonishing sale record. Taobao generated sales of 35 billion RMB ($5.8 billion) on 11th November by a promotional campaign. This record doubles the sale record of November 11 with the same promotional campaign of last year. In addition, the total revenue of eBay for the 3rd quarter of 2013 is $3.9 billion.

Making such a miracle of one-day sales is not accidental for Taobao. In China, Taobao is the most popular platform of online shopping. Moreover, Taobao is the first company that tries to use mobile phones as trading platforms. Taobao takes different advantages from its competitors, and make the best use of these advantages. At this point, we can say that Taobao is a combination of Amazon, eBay, and Facebook. From my point of view, Taobao is so successful for the following reasons.

To begin with, Taobao is very good at advertising, and introducing its service to buyers and sellers; thus, Taobao occupies a large part of maker share. Besides, building perfect relationships with customers is another reason of  Taobao’s success. Taobao conspicuously shows the comments of customers for the reference of  potential customers, and this is a good way to help the sellers on Taobao improve. Last but not least, Taobao is so visionary that it catches up the trend of development.  Taobao make mobile phones become convenient trading platforms. This attracts a lot of customers, too.

Sources:

http://www.businesswire.com/news/home/20131016006533/en/eBay-Reports-Strong-Quarter-2013-Results

http://mi.techweb.com.cn/tmt/2013-11-12/1355373.shtml