A lazy Sunday evening and I do not feel like moving or doing anything else which costs too much brain. I roam aimlessly in the virtual world to try to spot something exciting. I finally come to my friend Sheree’s blog. I was curious what she was writing for marketing. In her last blog, she talks about China’s biggest discount online shopping company—TaoBao (淘宝). Here is the article “3rd blog-TAOBAO- The great successful of E-BAY in China“.

Last week, our group has just finished Groupon marketing presentation. It was great. Those smart boys also made an amazing video for it. That is very cool. 🙂

The When it comes to daily deals you probably could name a bunch of online companies such as Groupon, LivingSocial, Zozi, At Cost and so on and so forth. And this morning as I was watching TV Quibids commercial came to my eyes for the first time, the fun, exciting and fast-paced auction website. I was born and raised in China. Recently years with China’s economic boom, many virtual stores sprouted overnight like TaoBao, Vancle，Gaopeng, Dangdang, etc. It seems the buzz of online deals is sweeping across the world. What is behind it? I think the following reasons should be taken into consideration.

First, we are under a tight economic background, so have to be frugal. This is very easy to understand. Second, technology development makes all these changes possible. Tech Age! Third, consumers are more savvy and value-seeking. We are become smarter since they have more choices before us. Compare the offers and choose the best deals. Fourth, the change of people’s life style. Work, work, work to death. Busy, busy, always busy. That is the typical description of our life. So those daily deals fit us wonderfully. We do not have to shop around. Just a few of clicks, it’s done. That is cool? Of course. Last but not least, competition works. As the market grows mature, it tends towards increasing competition. Virtual stores save cost, and at the same time it offers greater customer value. Knowing what the consumers need and want is always the key.