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Shopping festivals reflect the boom of Chinese e-commerce platforms

“If you missed the opportunity to shop during the November 11 shopping festival, that’s fine, you’ll have a chance to shop during Black Friday.

If you missed the chance to shop on Black Friday, that’s fine. There will be a chance during the December 12th shopping festival and New Year’s Day shopping festival.

Such commercials can be seen in recent days as the most popular shopping season comes to an end each year in China.

November 11th marks China’s one-of-a-kind holiday, where young singles celebrate the holiday in an atmosphere of joy and joy, but this holiday has gradually turned into a shopping festival since the establishment of Alibaba, China’s e-commerce giant. The promotional activities are part of Tao Bao Shopping, the most popular e-commerce platform of Alibaba.

Over the next few years, a number of online shopping sites, including Jingdong, Dangdang and other promotional activities on the same day, set up an e-shopping wave on November 11th across the country, making it an important holiday for shopping throughout the year.

During the shopping festival on November 11 this year, according to figures from Alibaba, the value of deals on the Alibaba platform exceeded 10 billion Chinese yuan during the first three minutes of the day, while the same value was achieved in about seven minutes in 2016.

Alibaba’s payment service, which is now called “Alibay”, currently supports the settlement of 27 currencies to serve consumers in more than 200 countries and regions in the world.

After enjoying the huge profits at the November 11 shopping festival, e-commerce platforms considered similar promotional activities. The December 12th shopping festival, the New Year’s Day shopping festival and others began to attract consumers, and some cross-border e-commerce platforms offered big discounts This day, known as the Black Gathering in the United States, usually comes after Thanksgiving and most stores and e-shopping sites offer great discounts and discounts.

In addition, some e-commerce platforms collaborate with regular stores and large markets to offer more choices to online consumers. Some e-commerce platforms that already have shops in the market, such as Sunning, which focuses mainly on the sale of home appliances, seek to coordinate products online and in physical stores by working with more than 1,000 physical stores across the country to eliminate the gap Between the prices of products online and in physical stores and offers facilities to consumers who prefer to see real products and test them before buying them online.

China’s e-commerce development report was recently released by the China Central Television (CCTV) in 2017. The report pointed out several characteristics of China’s e-commerce development. The report pointed out that China’s e-commerce volume ranked first in the world with a 40 percent global market share, Rural areas have grown significantly and the sale of agricultural products online has helped to eradicate rural poverty.

With the development of China’s e-commerce continuously, China’s e-commerce platforms are turning their attention to the world while accelerating the entry of foreign products into the Chinese market through their platforms, making cross-border electronic commerce an important driving force for China’s foreign trade growth.