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China Sets The World Record for the Biggest Sales Online in One Day

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Singles Day China

This was the doorway of an express company in Guangzhou on November 12th 2012. Its warehouse could not accommodate all the packages received from Taobao on “11.11 Singles’ Day – Online Shopping Festival”. Never heard of it?  On that single day, 72 million online-shopping-packages were sent out. This amounted to RMB19.1 billion transactions which is equivalent to about US$3 billion. The Singles’ Day promotion was created by Taoba and targets single men and women of China. It is neither traditional nor official  but for this one special day, Taobao’s Tmall  offered huge discounts to online shoppers. [Read more…]

What Wal-Mart’s Latest Acquisition in China Tells Us About The Future of E-commerce

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I’m not a gambling man but I’m prepared to bet that many people who read of China’s approval of Wal-Mart’s acquisition of 51% of Yihaodian this week probably said “who?”. They would most likely be readers from outside China who have never heard of this super-star of e-commerce. [Read more…]

Does China’s E-commerce rise signal the future of bricks and mortar globally?

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I don’t own an iPad. I’ve always wanted one but probably more for the kids than anything else.

I guess I’ve just felt that I had better things to do with the cash. So price has been a barrier (especially since I have three kids!) Not anymore – and mostly because of e-commerce. Why? Because here in my second home of Shanghai they’re cheap – Gome one of China’s two leading electronics behemoths has just dropped the price on an iPad 2 to CNY 1999 (that’s just over 300 of your American Dollars) so ok now I’m getting three! [Read more…]