On Nov. 11, the day called Singles Day or Double 11 Day in Chinese, numerous Internet Retailers, such as Alibaba, had launched huge discounts and promotions in order to lure customers. Without doubt, it is reported that Websites under Jack Ma’s Alibaba Group Holding Ltd. reported more than 35 billion yuan ($5.75 billion) in sales on Nov. 11, and plenty of other retailers participated in the buying binge on the day that originated as a celebration for China’s growing bachelor ranks.

But what is behind this amazing number? It is the war between new E-commerce and traditional commercial mode in China. According to my research, nowadays, there is an increasing rate of people who prefer shopping online due to the cheaper commodities. This leaders to a great negative impact on traditional commerce. More and more real stores close down. Obviously, traditional commerce is placed in a passive state now.  Traditional commerce should be warned and find countermeasures as soon as possible in order to maintain its position in the business market.

PS: Is this the signal of economic transition in China?

Reference:

http://www.ibtimes.com/china-celebrates-singles-day-record-breaking-sales-alibaba-other-internet-retailers-1464870