Single’s Day Sale!

In the US, thanksgiving means Black Friday and Cyber Monday, but in China November 11^th (Single’s Day) triggers the biggest online shopping spree of the year. The e-commerce websites Taobao and T-mall operated by Alibaba Group Holding Ltd. Is holding the November 11^th annual sale that generates more revenue than the Black Friday sale in the states. The total merchandise volume last year topped one trillion Yuan ($160 billion); this amount is larger than Amazon.com and eBay combined. Alibaba’s net profit is around $707 million and its revenue in the second quarter increased by 61%.

What accounts for Alibaba’s huge success is its successful management of business technology. Alibaba sees the growing number of consumers on e-commerce websites and so initiated its own online shopping platform. Alibaba created Alipay, an online payment and escrow service that allows for safe and secure online payments. This new technology increased consumer satisfaction and allowed for increased business growth. Alibaba’s new development exemplifies how business successfully employs business technology. Although Alipay does not directly increase productivity and growth for Alibaba, but it indirectly leads to faster, safer, and more efficient online transactions that creates an increase in sales revenue and thus business growth as a whole.