Evidence of the proliferation of online shopping appears to be shown with the success of China’s largest e-commerce site Alibaba which has listed its name as an online shopping provider that can make the most online transactions in a full day equivalent to more than $ 25.3 billion of sales through the Singles annual event Day. This significantly increased achievement is said to have exceeded last year’s online sales target of just $ 18 billion.
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The strong dominance of the Chinese Yuan currency against other countries’ currencies in the market and the rapid growth of online shopping access in China is suspected to be the cause of such achievement. So it would not be wrong if Joseph Tsai from Alibaba also seemed to associate this spike to increase the company’s revenue among more than 300 million middle-class buyers in the country’s bamboo curtain.
A vigorous promotion has given the sales event a success. Initially Alibaba only put the Singles Day annual event to promote a lonely heart for the singles, but over time it quickly evolved into a sales event that included all the things that made it so far. Even for the sake of giving a special impression in the event, this year Alibaba even to include the leading stars abroad such as Nicole Kidman and Pharrell Williams, in addition to Chinese celebrity Zhang Ziyi who also participated in the event launch event.
Alibaba and its rivals in China do not seem to be gripped with what has grown so far. When concerns arise that online shopping is likely to increase more rapidly in the future, Alibaba also seems to have anticipated it early with its success of opening 100,000 retail stores to the internet purchasing center to attract buyers who may have ignored online blitz. This will still leave significant growth potential as the growing middle class of China, and they will spend more online shopping when they feel comfortable doing so without having to leave the house.