Alibaba See Surge in Online Sales on Singles Day
As the years come to an end stores in the United States experiences its biggest shopping period especially during and after Thanksgiving. But in China it only takes Alibaba to trigger such as sale. November 11 is a day that millions of shoppers checks Alibaba’s e-commerce sites and spend almost the entire day in purchasing items compared to the Americans who spend on online retailers in Cyber Monday and Black Friday.
Alibaba is planning one of the biggest IPO since the launch of Facebook and the company is regarded as one of the major players in the e-commerce industry in China. Although the company is difficult to categorize its known with other names such as the Amazon of China with a mix of eBay and PayPal because of its Alipay. Alibaba is also considered as the largest e-commerce platform that handled a total volume of merchandise that exceeded 1 trillion yuan, which is bigger than eBay and Amazon combined thanks to the company’s shopping sites Taobao and Tmall.
Taobao is a large marketplace that features more than 7 million merchants that sells more than 800 million items everything from small decorations, small appliances and clothing. While Tmal features name brand items such as nike, Adidas and Gap. Chinese shoppers chose to shop in Taobao for its cheap prices while they check Tmall out for trusted name brands.
The sale started in 2009 when merchants on Tmall started to offer large discounts to boost sales for the period between the autumn holidays and Christmas. Coincidentally the so called 11/11 shopping festival is also known as Singles Day were young people celebrate the day being single.