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China’s e-commerce sales peak on Bachelor’s Day (2)
The combination of modern business and modern culture to increase sales is quite thought-provoking. In addition to luring discount in price and identity recognition behavior, something like community effects as a stimulus plays an important role, too. It’s not only a community of consumers, but also along with manufacturers, logistic network, synergistic IT platform and so forth. Working together virtually but knowing each other so well, they tackle a job like ‘hunger—feeding’. As a high level of synergy has been presented along the chain of value, it has changed collaboration to co-creation. The difference lies whether each engaged person has access to all the information of this issue and in return has impact on it. For example, in film making, which is considerably mature in Hollywood, if the rest of the crew, except for producers and directors, and their potential audiences know more about each other and have impacts on the ultimate product other than part of work of their own, working process will be improved and a better work will be displayed on silver screens.
The value creation of such kind of synergy has confronted with some challenges. It has some conditions. The first is that more information is better than less. And the second is that group decision making is better than individual decision making. Variably, these still remain questionable. Yet one thing is sure that Chinese consumers will continue their shopping behavior on that special day, and turn this miserable day to an extremely joyful one.
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China’s e-commerce sales peak on Bachelor’s Day (1)
The online shopping carnival of this year is just over. As statistics shows, the total amount of transaction on China’s biggest e-commerce website ‘Taobao’T-mall’ hits 91.7 billion yuan (14.8 billion dollars) within a single day of Nov.11th. It’s not astonishing in light of the steady increase over the past few years.
The most interesting thing is that the foundation of Bachelor’s Day on Nov.11th is absolutely with no attempt, but is taken advantage of by Internet companies to prosper the whole e-business industry. As we all known, people tend to let out their feeling and impulse on the Internet as social network prevails. The day of Nov.11th, as is written in ‘11.11’ just like four men or ladies without mates, was identified by netizens in China some years ago to fulfill self-entertainment ironically. The past few years have seen an overturn on people’s attitude over being single. By sending presents to each other, shopping online and holding parties on ‘double 11’, single men and ladies started enjoy being themselves. E-business companies found out this consume boom and made it a shopping carnival. It was a huge success.
However, Rome is not built in a day. Many manufacturing business owners stated that they had screwed it up at their first ‘double 11’. “At that time (year of 2009), we were still a small enterprise. When the Department of Marketing of Taobao asked me how much we might sell on that day, I said perhaps 300,000 yuan. And then they went ‘No, it will hit 500,000’”, said Jianhua Fang, the CEO of Huimei Group, “And things turned out that we got 10,000,000 yuan of total order. It’s much more than we could handle. It would take us 3 months to finish them, but it was not likely that our customers would wait that long. We got thousands of negative reviews.” Entrepreneurs like Fang had just no awareness of the power of festival shopping, but they began to realize that it’s a must to use information to do something over each part of their chains of value. Apart from this, while Alibaba built up the online channel and quick payment system, the system often broke down when massive data was flooding in. Before long, construction of Internet infrastructures was enhanced to meet the needs. This year, pre-sale was conducted to help manage data flooding and incentivized gamification was used for marketing and sale. All of these made 91.7 billion yuan of sales within a day never a legend.
(Please refer to part 2 for continue reading)
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