11th November is famous as China’s Single Day, however, it becomes a new “holiday” in China in recent years—China’s Black Friday. Can you imagine that, thousands of Chinese were waiting online on the midnight of 10th November in order to buy the limited amount of discount commodities online. Many of my Chinese friends were kind of crazy on that day, they were extremely excited to shop online and they spent a huge amount of money to purchase commodities with e-commerce retailers.
Alibaba, as the biggest Chinese e-commerce retailer, announced on Wednesday that “Alibaba’s Single’s Sale surpassed their record of $9.3 billion in 2014 as they recorded sales of $14.3 billion”. I was shocked when I saw the huge selling volume that Aibaba made within one day. So I think Alibaba’s success also indicates the huge e-commerce market in China and the number of online retailers also increased rapidly in these years. But the truth is with the increasing market demand, there are a lot of problems exist as well. Firstly, the e-commerce market is lacking of monitor, I’ve heard so many people bought fake or poor-quality commodities online. So I think it’s necessary for online retailers to improve the quality of their commodities. And another problem is, the logistics and transportation industry is developing slowly with the rapid growth of e-commerce. So online retailers should cooperate with logistics and transportation companies to make sure the delivering process operates well and effectively. What is more, every online retailers are competing with each other, so personally I would say some online retailers are concentrating too much on competing with rivals.
resources:
http://www.investopedia.com/articles/investing/111215/alibaba-kills-singles-day-shares-decline.asp
https://www.internetretailer.com/2015/11/11/alibabas-singles-day-sales-top-chinas-daily-retail-average
Hi! Your blog is really thought-provoking! I also want to discuss a little about it. I saw Alibaba’s founder Jack Ma as a brilliant marketing person. He knows exactly how customer psychology works: customers need an incentive for shopping, and singles need a celebration to treat themselves and buy things for themselves. Jack Ma used lots of excellent marketing tools to promote sales before Single’s Day, although the expenses on advertising must be high, the profits dramatically overpassed. What’s more, Jack Ma seized the best timing for introducing the double 11 online sales promotion, the e-commerce of China is evolving rapidly from 2009 until now, therefore, I believe that Alibaba’s success was definitely not by accident.
Couldn’t agree more:)