An informal holiday started in 2009 with the aim to give singles their recognition has not only turned out to be the biggest single (excuse the pun) day sales record but the simplest idea which makes money. When you are able to rake in 1 billion dollars in a less than 2 minutes and just over 9 billion dollars in less than an hour it makes for a business wonder which is a marvel on its own. For everyone who has an online business then the Alibaba record sales is a wake up call as to the potential of business.
It is not enough to just have an online store, but it has to be engaging and creative. The people who shop there must feel that they own the idea of the store. The Cyber and Black Friday days are examples on how to get people engaged, however the singles days is something new out of the box thinking but simple in its nature. When everyone is clamoring on the Valentines day and its nobility Alibaba simple did the opposite and took those who seemed to be forgotten but who want to be recognized. The key is to know your market and how to reach out to the market. There is a lot of competition in the market place but when you can identify your group or segment of people and be able to reach them on their browsers that is a plus for business.
30,8 Billion Day
30.8 billion dollars is a number most companies dream of and wonder how to get to, but when a company can achieve it in a day’s sales then that kind of business strategy is something that deserves a good study. Though the fact still stands that the suppliers operating on Alibaba are getting paid, millionaires do happen within a day thanks to the Alibaba model. When you create a facilitation platform like Alibaba your main business is ensuring how to keep it as efficient as possible and this is where most online companies fail. You might have an online business but if there is no consistency on how the business runs and the satisfaction of clients is low then the online concept will quickly be offline in people’s minds. A good platform like Alibaba or Amazon requires that one has a hand on how things are run, and be more involved to ensure that the business standard is kept.
Having the vision for your online store counts on how you want the business to be run. Since 1999 as a B2B to connect Chinese suppliers, the company has not only maintained its connectivity vision but has evolved to connect the overseas client. The online business vision should not remain static but should evolve with one principle in mind, “Connectivity”. Whether it is Facebook, Amazon, Google, or any other platform the idea is that people come online to connect, hence the need to create more ideas on how to connect them.
What the future looks like
The future of shopping is becoming more technology driven with people preferring to shop from home, and the browser and app being the platform of choice. Investing in convenience and understanding what the client is looking for is critical. It is not just about the AI and robotics but catering to the human need. At the end of the day we are not selling to robots but to human beings hence we need to know how they think. The future is bright for any online company that can create real engagement and answer people’s solutions such that business is about need and provision. Not everyone can become Alibaba overnight but online is here to stay provided technology keeps up to what people want.