Alibaba’s Single Day (November 11th) sales have become an annual event for Chinese of all ages, while cross-border e-retail companies bring Black Friday and Boxing Day discounts to China. In 2015, the transaction volume of e-commerce was US$3.8 trillion, almost 6 times higher than the same number of Black Friday weekend in U.S (US$655.8 billion).
Tmall, the B2C unit under China’s largest e-commerce company Alibaba Group, said it would offer over US$50 million worth of cash vouchers and encourage consumers to share gift coupons with friends to allow more participants at its annual shopping spree on Single Day this year.
Consumers will be encouraged to distribute their vouchers with friends through social networking, such as microblogging site Weibo and instant mobile app WeChat, therefore more people will receive the benefits immediately.
In addition to sales on Single Day, Alibaba Group finished the fiscal year on a very strong note. From March 2015 to March 2016, a shopping volume of US$485 billion was processed via Alibaba shops and platforms – several times what Amazon generated (US$137 billion in 2016).
The company also said it aims to double the capacity of its Internet servers to prepare for the large influx of visitors to its sites from both desktop PCs and mobile devices.
Online to Offline
Last month, the online retail giant has now unveiled an even more ambitious plan to transform 10,000 mom-and-pop convenience stores across China into a vast network of Tmall.com brick-and-mortar outlets, where consumers can shop, pick up packages, make orders online, or even apply for and receive small loans.
Tmall aims to better connect brick-and-mortar stores with its online operation for a win-win strategy.
Tmall is making a huge aggressive progress to make consumers to engage with its online store. The link between social media and online stores keeps evolving fast, and it is necessary for its partnership to drive online business, but not the only one.
Just as Tmall mentioned, better aligning with brick-and-mortar stores is a high priority. This connection will be important for both Tmall and brand owners with a network of physical stores to boost their business productivity. Also, with more creative contents and marketing campaigns on promotion, it could arise a massive amounts of potential customers to stop by both online and offline stores.
The modern Chinese consumer seeks to invest in high quality products that improve their livelihood. In this regard “Made In the USA” has been the preference of choice. A U.S. brand with strong North American presence is the perfect candidate to reach a new level of success by strategically expanding into the Chinese market.
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Chinese consumers enjoy engaging with and learning from newly established brands through social media platforms. WeChat is one of the primary channels used for social outreach and engagement in the Chinese-speaking market.
WeChat official accounts give brands a new method to manage the relationship with customers. However, it’s important to understand the two different types of WeChat official accounts before going ahead.
Subscription accounts provide a new social media model for institutions and individuals to distribute the news and to interact with readers. The subscription account can send one message to all subscribers every day.
Service accounts provide more powerful business services to enterprises and organizations than subscription accounts. This type of accounts enables the companies to implement a multifunctional online service platform to convert the followers to the clients effectively. Although service accounts can only send one message per week, it allows a company to integrate more useful functions, such as checking the status of credit cards or conducting an online chat with customer services.
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