Internet Marketing Services In China

TMALL SAW OVER $5.7 BILLION SPENT ON CHINA'S 11/11 ONLINE SHOPFES

Date

Aug-04-2016 20:15   by  Steven Chong - CBC

China is finally beginning to emerge as a consumer culture, with buying power fitting of its 1.6 billion population-and the internet is the best place to see this transformation.Online shopping culture is blossoming in China like nowhere else in the world.

Recently, China's 11/11 online shopfest-the equivalent of America's Cyber Monday-saw staggering sales numbers, eclipsing previous world wide figures.Within a single 24 hour period, Alibaba's Tmall saw over $5.7 billion (RMB 35 billion) spent in its online marketplace. With over 20,000 merchants, and 400 million individual visitors (a number greater than the entire population of the United States), this mega spending spree will record an even more outstanding total sale once figures from other payment methods are added to the $5.7 billion representing the internal Alipay (Paypal) users alone.

While a different event, there is an incredible difference when comparing Tmall's sales figure to November 2012's 1.46 billion total spent by US consumers (on all major outlets) for Cyber Monday. Other online merchants, including Jingdong (formerly 360 buy) and Tencent (makers of WeChat) saw staggering sales figures as well.

"Sales of items like shoes are through the roof. We're seeing 1,000 percent increases in Asics and Li Ning and more than a 5,500 percent increase in New Balance. in 3C [electronics] products we are seeing skyrocketing numbers - we are on pace to sell a computer every second of November 11." (Li, Goria, Senior VP of PR at LiGong, Nov 2013)

Tencent's 51Buy saw a record of more than $59 million in sales. China's market is truly coming into its own as a consumer culture, and online shopping continues to thrive as the number of Chinese internet users grows. It is an exciting time in an exciting market. Here at e-woow, we are here to help you get in!

CBC

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