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shopping

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The final total of sales which is more than the GDP of countries like Iceland, leaves other shopping days behind. Cyber Monday in the US covered 'only' $3.45 billion in online sales the previous year.

Alibaba, the famous Chinese e-commerce giant, said on Saturday, 11 November that, its Singles’ Day sales has hit $25.4 billion. Alibaba broke its own record from last year and has made this event, the world’s biggest shopping event to happen till date.

Once this day was a celebration for China’s lonely hearts, it has now become an annual 24-hour buying frenzy. Single’s day exceeds the combined sales for Black Friday and Cyber Monday which are similar very popular events in the United States.

By midnight, Saturday, Alibaba’s ticker of live sales registered 168.3 billion yuan of sales. This was up by 39% from 120.7 billion yuan that Alibaba registered last year.

This event had begun soon after an event in Shanghai in late night Friday. As soon as the midnight hit, a shower of pre-orders helped in driving a billion dollars of sales on Alibaba’s sales platforms in the first two minutes only and over $10 billion in just an hour.

This event each year gets shoppers around China who scout for bargains and load up their online shopping carts, all the while delivery men & robots brace themselves for an estimated 1.5 billion of parcels which are expected to be delivered over the next six days.

Joseph Tsai, Alibaba’s co-founder and vice chairman, said that, this is a big event for China and for the Chinese economy. He said that Singles’ Day shopping is more like a sport and very entertaining in its process.

Tsai said that rising disposable incomes of over 300 million middle-class Chinese consumers is helping in driving the company’s online sales and would continue to do so.

The final total of sales which is more than the GDP of countries like Iceland, leaves other shopping days behind. Cyber Monday in the US covered ‘only’ $3.45 billion in online sales the previous year.

Investors have closely watched the headline number, though according to some analysts it might have discrepancies. The U.S. Securities and Exchange Commission had launched a probe into Alibaba’s accounting practices the previous year, including into its Singles’ Day data. This investigation is still ongoing.

At Alibaba’s Friday night gala, the company hosted popular guests including the actress Nicole Kidman, famous singer Pharrell Williams and a few Chinese musicians and film stars such as Fan Bingbing and Zhang Ziyi.

This excitement around the shopping gala, however, masked the challenges that currently face China’s online retailers. The Chinese giants nowadays have to spend more to compete for online shoppers in a broader economy because of slower growth.

Alibaba has said that, it had turned over 100,000 physical shops around China into “smart stores” only for this year’s event. Goods checked out by people at the stores, then bought & paid for on Alibaba’s platforms, were also added in the sales total.

Online retailers are now being forced to make way offline as well as overseas to attract new shoppers, and the online retail market is now close to saturation. This raises questions about whether the current rapid growth could be sustained for a period of time.

 

-Archit

 

 

 

 

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Shopping freak, right? But what will you prefer more for shopping? An online one or an offline one? Online shopping has become much popular and the preferred one for anyone to shop for any of the products. But, since the existence of mankind, Offline shopping is still managing to maintain its space and presence in this highly competitive market.

All the retailers dealing with the online shopping are here to provide some of the benefits and the facilities that offline retail stores can’t provide but this is not at all done with the intention of closing or discouraging the offline market. But, both are just commendable in their own ways and the customers are making use of these stores to accomplish their different shopping needs and preferences.

Let us make you have a look at all the pros and cons of Online and Offline shopping that makes them too different or better than each other:

  • Convenient shopping- Keeping convenience in mind, this is the point that you will also agree with “Online shopping is more convenient than the Offline shopping.” On deciding the product that you have to buy, you can make the whole payment online or choose the Cash on Delivery option and get the product right at your doorstep. You don’t need to take out your car and travel all the way to the offline stores to buy these products.Image result for convenient shopping
  • Varied kinds of products- If we take a look at the “Variety of goods for the customers”, we can say that Online shopping is better this way. As compared to the offline shopping the Online retail stores provide its customers with the better variety in case of brands, colors, sizes, quality, and designs. Having no problem related to the accommodation physical space, the Online retail stores can provide you millions of products at a single place.Image result for various products in online shopping
  • Try before buy- Here Offline Shopping comes into play because it has this benefit that an Online store lacks behind. In an offline store, you can touch, feel and even try the product before buying it. If it doesn’t match your preference you can skip the idea of buying it. But, this is totally opposite in the case of Online shopping as you cannot try anything before buying. You just have to believe on what the image of the product tells you.Image result for try before buy
  • Hand to hand buying- In online shopping, once you place the order it will take approximately 2-3 days to get your product. Whereas, offline shopping facilitates the hand-to-hand buying system. Once you do the payment you will get the product at the same moment there itself. So, no need to wait for the delivery of your product during Offline shopping. This is really helpful in case of buying some products during an emergency.Image result for hand to hand buying'

So, now the decision is yours on how to shop. Online and Offline shopping are both amazing in their own ways, you just need to look at your preferences and then choose your way of shopping accordingly. Happy Shopping!