Ecommerce is taking off in a big way. Each year online retailers like Amazon and Alibaba post higher and higher revenues. What is staggering is that online retail is still a mere 7% of all retail in the united states. This move to shop online is spurred by more and more outrageous massive online sales. This is forcing traditional brick and mortar shops to try and match these on days like Black Friday, but every year these online sales bonanzas are hitting bigger and bigger records. Three most famous and popular online sales are:
This is what the monday after the thanksgiving holiday is called. It is the monday after Black Friday. It was actually term created by a marketing company in order to get people to shop even more online.
Not willing to miss out on the attention garnered from Cyber Monday, Amazon used the anniversary of its Prime service to create an online sale day to promote the service. The service is now rumored to have around 50 million members who pay $99 dollars a year for free two day shipping and special discounts.
This is an online sale by China’s ecommerce giant, Alibaba. Alibaba turned Single’s Day, the Chinese holiday for the single-set, into a huge economic opportunity through a savvy marketing blitz. They raked in approximately $5 billion dollars in sales within the one and a half hours! They ended the 24 hour period with $14.3 billion dollars in sales. The advantage of Alibaba is that this included sales to most of the asian region and other parts of the world.