#2 Alibaba shares surge in their NY stock market debut

http://www.bbc.com/news/business-29282407

Extract:

Shares in the company made their debut in the US at $92.70 (£57), after being priced at $68 late on Thursday. Alibaba operates a series of online marketplaces in China and elsewhere, handling more transactions than Amazon and eBay combined. It is responsible for more than 80% of online e-commerce in China.( BBC news, accessed Sept. 20th, 2014)

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Taobao is the most famous part of Alibaba in China. People in China do know Taobao, the online shopping medium. Just in 11.11, 2013, Singles’ Day, Taobao created a grand record—the daily turnover researched to $8 billion( Dailymail by Simon Tomlinson 11 November 2013 ), which is about 50% the daily gross turnover of China. And this medium rebuilds Chinese people’s shopping styles.

And the Alipay, a third-party online payment platform of Alibaba, now  embedded in our daily life. Consumers can use it to pay for bills, taxi payments, credit card, in-store purchase, etc. I use it at least 3 times a week.

As for the popularity of  online shopping, e-commerce grows faster than any other field in China. Everyone wants to take a piece of cake in this market. And Alibaba also has many competitors, e.g. JD.COM, and dangling.com. But Taobao accounts for around 80%, legal monopoly in this field, referring to the chart in the Baidu Wenku. Why do consumers prefer to choose Taobao? Branding may be biggest factor; as for me, the first idea to buy something, is Taobao, branding for more choices and lower prices.

reference list

Taobao accounts for around 80%, legal monopoly in this field, referring to the chart in the Baidu Wenku ” http://wenku.baidu.com/view/39d57869561252d380eb6e45.html 

“the daily turnover researched to $8 billion”

http://www.dailymail.co.uk/news/article-2500413/Worlds-biggest-shopping-spree-China-set-spend-8BILLION-Singles-Day-loveless-persuaded-console-retail-therapy.html

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