Global shopping festival


December 29, 2016 Facebook Twitter LinkedIn Google+ Global shopping


Global shopping festival

Alibaba.com is the largest online shopping website today with revenue that runs into millions – . The 11 11 Global Shopping Festival (11th November 2016) is to take the place of a holiday known as singles day on the Chinese calendar. This day has been rebranded by Alibaba.com with plans to make it the greatest global international shopping festival.

The build up to this auspicious shopping festival has already gained momentum with some erroneously comparing the event to Black Friday – while black Friday is popular it does not appear to have the capacity to collect revenue expected in this year’s Global Shopping festival. For instance last year alone, during the festival Chinese treated themselves to products worth £ 11.4 billion in just 24 hours. Alibaba has a big advantage in the online retail market owing to its roots firmly planted in what is the most popular country on the globe.

The idea is innovative and is backed with features and highlights that will make the Three week shopping extravaganza memorable. As you might have expected affordable and quality consumer electronics are likely to be among the most sought after products during this shopping expo.

Alibaba’s journey to the Global Shopping Festival

Alibaba started using the singles day holiday in 2009 to allow the singles to buy something special and appreciate single life. Over the years the revenue and popularity has grown from 5 million Yuan in 2009 to over 500 million Yuan in 2011.

Shopping in a mall or online can be quite the task with lots of goodies on offer, great bargains, and promotional options. You could easily need up paying for a perfect coffeemaker only to see that TV you were dreaming of a few days and dollars later – often spontaneous decisions are to blame.

You can expect to see all the major Chinese brands at the expo with each edging for space to build and foster brand recognition and awareness.

Wise shopping during the Global Shopping Festival

Everyone wants to win – consumer and retailer/manufacturer at these expos. While shopping, you should expect to work with nothing less than the top marketers from each company – you need to be really focused to avoid spontaneous buys. Here’s how:

  • Plan, plan and then plan: Before you step on the red carpet on the 11 11 make a clear plan. You may include items you want to see, the ones you want to buy and prospects. Visit these booths in the order you prioritized while planning. You can window shop, then buy and finally just explore.
  • Do not fall for visual cues: Marketing is a science and at an Expo everyone draws from their deepest pocket – the logos, raunchy dressing, bright lights, music, and ambience ALL come into play. You must stick to your plan if you are going to leave in one piece.
  • Prepare a realistic budget: Set a limit that matches your plan. Do not fall into debt chasing bargain – the festival will be there next year. Use this budget as a guideline when skimming through products and be prepared to make some sacrifices. For instance, if the dream TV you expected was worth $200 and you find a product worth $150 only buy it if it almost completely matches the quality of your preferred choice. Do not run for cheap just to save bucks and buy again – cheap is expensive.
Comments