"China splurges on world's biggest online shopping spree - AFP 11 Nov 2015
Competition for a slice of China's 668 million Internet users is turning increasingly fierce, and Alibaba kicked off this year's mammoth event with a television spectacular at Beijing's Water Cube Olympic swimming venue.
A little over 12 hours after the promotion's midnight start, sales had already outstripped last year's US$9.3 billion gangbusters effort. By around 10pm, shoppers had splashed out almost US$13 billion, according to a company blog.
The figures were "very solid evidence for the power of Chinese consumers", chief executive officer Daniel Zhang was quoted as saying, adding that when the company started the event "we never dreamed it could be such a huge shopping day"."
11 November [1111] has been turned into an Online-Shopping Day on a scale unprecedented in human history! Tens of billions of commercial transactions were made by people in China and another 100+ countries around the world. It shows that IF YOU WANT TO SELL something, anything, and MAKE lots of money, you HAVE TO GO CHINA!
As a poor consumer who BOUGHT ZERO, I hope everyone buyer got what he/she really needs and with the quality they deserve regardless of the 'prices'. Consumerism at its BEST or at its WORST?
We will know when MANY THINGS get thrown away after they are opened upon delivery! OR COMPLAINTS galore for fake goods, poor quality goods, etc.!
Lessons for me are:
1. is it a SUCCESS or is it a COMMERCIAL success?;
2. is it desirable or is it undesirable?;
3. can rationality win here or 'desire to buy something as someone I know is buying something' win?
Let's see how far this 'festival' will go on? BUT one time for sure, IF you want to make money, GO TO China as there are billions of consumers waiting to be charmed and wooed!
Competition for a slice of China's 668 million Internet users is turning increasingly fierce, and Alibaba kicked off this year's mammoth event with a television spectacular at Beijing's Water Cube Olympic swimming venue.
A little over 12 hours after the promotion's midnight start, sales had already outstripped last year's US$9.3 billion gangbusters effort. By around 10pm, shoppers had splashed out almost US$13 billion, according to a company blog.
The figures were "very solid evidence for the power of Chinese consumers", chief executive officer Daniel Zhang was quoted as saying, adding that when the company started the event "we never dreamed it could be such a huge shopping day"."
11 November [1111] has been turned into an Online-Shopping Day on a scale unprecedented in human history! Tens of billions of commercial transactions were made by people in China and another 100+ countries around the world. It shows that IF YOU WANT TO SELL something, anything, and MAKE lots of money, you HAVE TO GO CHINA!
As a poor consumer who BOUGHT ZERO, I hope everyone buyer got what he/she really needs and with the quality they deserve regardless of the 'prices'. Consumerism at its BEST or at its WORST?
We will know when MANY THINGS get thrown away after they are opened upon delivery! OR COMPLAINTS galore for fake goods, poor quality goods, etc.!
Lessons for me are:
1. is it a SUCCESS or is it a COMMERCIAL success?;
2. is it desirable or is it undesirable?;
3. can rationality win here or 'desire to buy something as someone I know is buying something' win?
Let's see how far this 'festival' will go on? BUT one time for sure, IF you want to make money, GO TO China as there are billions of consumers waiting to be charmed and wooed!
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