E-commerce Giant Alibaba has spent more than $14 billion in November 11 “Singles Day” which was considered as the world’s biggest online shopping day. Alibaba sale has reputed the worries over China’s Slowing economy and it has evolved for the biggest sale since 2009 to promote the product through its platforms. Last year it has merchandise the volume sales of about $9.3 billion when it was compared with the present year sale. The sale has reached about more than double $6.6 billion and the Chinese consumer’s strong demand for the international products.
Alibaba have morethan 40,000 merchants and 30,000 brands from 25 different countries which sells goods on its platforms. In US largest online shopping event Cyber Monday bought $2 billion sales from desktops during the day and it has hammered over the Chinese worrying economy. Alibaba.com stands to benefit with Taoboa platform and it dominates the consumer-to-consumer online market. Tmall Platform is believed to be more commandable with the half of the Chinese market for business to consumer transactions.
Alibaba’s Sale of about $14 billion, equals to Amazon’s Two months of Global sale and Flipkart’s One year sale. For the First time in Seven year history Alibaba had ranged in Single’ Day and this event was televised on Hunan TV and streamed live on Youku Tudou with the featuring appearances from Chinese celebrities and singers.
Snapdeal India’s biggest e-commerce company turned with the explosive growth in recent years, which has emerged with nascent stages and grabbed the India’s E-commerce industry. India’s Gross Domestic Product is 2 Trillions USD Dollars today and it is 70 percent of that consumption with 10 percent and it moves to online space. Snapdeal.com has captured the market share of 35-40 percent India’s online retail market which was expected to grow from USD 5 billion today to USD 75 billion over with the next for 5 to 10 years.
Snapdeal is India’s fourth most valuable start up company which was founded in 2010, where the website drives more than 25 million subscribers and over 150,000 businesses that sells on the leading platform. It tooks for nearly three years to get the first 100,000 sellers and the next 100,000 will be provided or coming in just six months. Recently a report was conducted by the Associated Chambers of Commerce and Industry of India which has grown along with Price water house coopers.
Snapdeal’s rapid growth has not escaped from many of the investors around the world and the media reports favour with technology businesses. In June China’s e-commerce behemoth Alibaba and Taiwan’s contract handset manufacturer Foxconn are in major talks about the value of the company shares that could value for USD 5 billion. The shopping industry is right now private capital markets and it has become much deeper for the flexibility in execution with a long term orientation in the planning.