lundi 18 novembre 2013

Singles Day in China - Ecommerce Boom

Singles Day in China - Ecommerce Boom

Singles sales on Monday broke records of e -commerce and pushed China back in the spotlight .
When it comes to e -commerce , to set a date to focus on promotions is very fashionable . It was first Cyber- Monday , where traders have discovered that consumers who return to work from a weekend of Thanksgiving shopping held to actually lead to spend online . This figure rose to a larger purchase dates on the calendar. This year, the Adobe Digital Index expects Cyber ​​Monday sales to reach U.S. $ 2.27 billion , compared to U.S. $ 1.5 billion last year.

1.5 billions sales in China! 

Given the global reach of American giants of electronic commerce, it is not surprising that Cyber ​​Monday has become a global event. Despite not celebrate Thanksgiving, online bargains and near Christmas Cyber ​​Monday urged European and Latin American newspapers also . Some countries have tried to go it alone. " Mega Monday " in the UK is a week later than Cyber ​​Monday , while Australia has launched days " Click- Frenzy" with varying success . But the last two years have seen China pork limelight thanks to the spectacular growth of "Singles -Day " on November 11 . humble beginnings
Single day began among students in Nanjing looking for a date to celebrate celibacy and the regulation on those represented by four 11/11. In fact, it is difficult to see the initial appeal to buyers. Large commercial periods fall around China 's National Day on October 1st and the Chinese New Year in January and February . Accordingly represents a lull in November , unlike the pre-Christmas frenzy melee begins in Europe and the United States .
However, this also explains the eagerness with which retailers have sought to appropriate the date as their own. Alibaba , the largest online retailer of China began to market the day of Singles in 2009. Sales were initially modest , less than 10m dollars, but have grown rapidly . Last year , transactions of U.S. $ 3 billion was the largest single day of online shopping day of the year. This year, he has cemented this position with estimated Rmb35bn (U.S. $ 5.75bn ) sales.


A difficult market 


E -commerce in China is growing rapidly. Earlier this year McKinsey reported that online sales grew at an annual compound growth rate (CAGR) of 120% in a decade. According to the Internet Network Information Center in China (CNNIC ) online sales last year rose 66 % to RmB1.3trn ( almost 200 billion U.S. $) . Growth slowed in 2013, but reached 35 % in the first nine months of the year, compared to the overall sales growth of less than 9% . Online sales now accounts for 6-7 % of retail sales in China , highlighting the speed of convergence with Western markets. Even more striking is the role that smartphones and social media play . According to the CNNIC about 40% of online shoppers with a mobile navigation device while s -commerce is also receiving more attention in China than elsewhere.

Chinese e -commerce market is a tempting but difficult for foreign players to enter . Alibaba has a B2C market share of nearly 40 %. He is joined by 360buy and host of smaller operators who participate heavily on prices. eBay has learned this painful lesson , entering the market in 2004 and released two years later. Amazon showed stamina but just cut a 2% share . Majority stake in Yihaodian Walmart gave the company a relatively small building footprint , while eBay 's second attempt to enter the market is quiet , with the acquisition of as a springboard .
Despite ominous start foreign retailers are unlikely to give up easily on a market that shows little sign of slowing, despite greater caution in the retail market at large. Based on the levels of growth in the first nine months of 35% of Chinese online sales will reach $ 280 billion this year , passing the United States as the largest market for e -commerce in the world in the process . Beyond that the sky is the limit with McKinsey forecast that Chinese online sales could reach $ 650 billion by 2020

2 commentaires:

  1. It’s fair to say that Singles’ Day may be the actual future of retailing. The Chinese embrace technology, love ecommerce and love spending. Fully embracing virtual and augmented reality, China is already at least one digital step ahead.