They simply often have more data at their disposal than the competition, can experiment more, can earn back technological investments over many more orders and also have access to much more capital. Singles day sales van Alibaba. Image source: Business Insider Some data showing how China is developing: During the last Singles Day, Alibaba generated a turnover of more than 84 billion (!) dollars.
Purchasing decisions are increasingly
During Singles Day, more than 500,000 (!) orders are placed per second during peak times. An almost unbelievable number. Live shopping is playing an increasingly important role in China. A well-known influencer sold more than $1.7 billion Malta B2B List worth of products on Alibaba’s Singles Day in a 12-hour live stream. Even before the event had even officially started. WeChat currently has 1.1 billion monthly active users.
A number that continues to grow. Of all the time people spend on the internet on their mobile, they spend more than 30% on WeChat. China has a population of approximately 1.4 billion and about 939 million internet users. Last year, the number of internet users grew by more than 85 million people. Watch out for tech giants like Amazon and Alibaba Superpowers such as Amazon and Alibaba will not fail to conquer the world further.