Many may know and participate in the United States huge rush for online shopping after Thanksgiving, also known as Cyber Monday. However this ranks as the second largest e-commerce event in the world. In the recent years, an online shopping extravaganza has emerged for China. It began in the 1990s by college students who did not have a significant other. As a replacement for Valentines Day, young adults without partners began treating themselves to dinners and gifts. The concept of the date arose by November 11th or 11-11 which has 4 singles (for singles). It has now erupted into possibly the busiest online shopping day in the world.
The simple items have now evolved into jewelry, TVs, and even cars. The event has also spurred the need for different marketing techniques and price cuts. As the article mentioned, some retailers have promised discounts up to 70 percent off. The deals are very hard to resist and resemble many aspects of the United States’ Cyber Monday. Halfway through the day, approximately $1.6 billion in sales have been accumulated by means of the largest website for online shopping in China, tmall.com. This amount has surpassed the $1.25 billion that United States online retailers took in last year’s Cyber Monday according to the article’s source comScore, a research firm.
Companies have also had to begin planning and forecasting sales and delivery services months in advance. Alibaba, the largest Chinese operator of e-commerce, has requested additional lounge chairs and made reservations for rooms in nearby hotels for their employees to take much need breaks and relaxation. According to the article, more than 800,000 delivery personal will be working Sunday with the additional 75,000 hired seasonal workers. And one of the largest companies has even expanded their operating capacity by 50 percent.
Although the idea of a large shopping spree day online in China may be different from the United States, there are many similarities when it comes to the businesses and their preparation. Do you see a growing trend in online shopping in American or believe that making the trip to the store is necessary? In my opinion, I believe it matters in the nature of a product to either purchase it from a picture on the screen or physically taking the good off the shelf.
Article Source : http://finance.yahoo.com/news/singles-day-chinas-online-shopping-070856623.html