On Sept. 9, 205 Mercedes-Benz Smarts cars were sold out within three and half an hours on TaoBao, China's largest online retailer. This event also sets a new record for the higest transactions in a shortest time span in China online shopping industry.
The first car was sold after 24 seconds, 55 cars were sold after six minutes and 205 cars were gone after three and a half hours, according to People’s Daily News.
Mercedes-Benz (China) said, "Taobao has more than 200 million registered members, most of them are young generation consumers, while Mercedes-Benz smart is a leader in urban trends and creative life style, and we look forward together to create a unique Taobao car sales methods. Mercedes-Benz will work close with Taobao to introduce its latest vehicle model to the Smart fans in China.
Geely, the campany just acquisited Ford's Volvo with 1.8 billion US dollars, plans to sell its cars on Taobao earliy next year.
Tuesday, September 21, 2010
Taobao CPI - A Superior Index to Predict China’s Economy
China's largest online consumer-to-consumer (C2C) marketplace Taobao launched "Taobao CPI", China’s first consumer price index of online shopping in June 2008. Based on price trends in online shopping, Taobao CPI is designed to reflect the general ambiance of the online shopping market and the consumption status of urban mainstream citizens. Taobaodiscover believes that Taobao CPI is a better index to foresee the trend of Chinese economy than Chinese National CPI.
The main difference between Taobao CPI and National CPI is: Taobao CPI reflects the prices of smaller categories of goods and gives more weights to consumer goods (such as apparel, digital products, and cosmetics), which have high price elasticity and no rigid demand; National CPI weights more on food products, which have low price elasticity. Therefore, Taobao CPI is more sensitive to the price change than national CPI. This means the change of Taobao CPI is prior to the change of National CPI.
In July 2010, Taobao CPI rose slightly at 0.1% from 6.9% in the same month of 2009. It dropped 6.8% from last month. It has been declined for 5 months from its peak at 12.9% in February this year
In Sub-sectors: compared to the same month of last year, Taobao CPI in food/health, living service, dress/shoes/bag sub-sectors had the most significant increase. Particularly, food/health sector had the largest increase to 10.9%. In contrast, collections, household items, maternity items, 3C Digital, jewellery are showing a sharp price decline. Most of sub-sectors emerged a general trend of decline from June.
National CPI climbed 3.3% from the same month of last year and 0.4% from June. Food prices rose 6.8% from July 2009 and 1.1% from June. This is mainly due to the severe flooding weather across China. Fresh vegetable prices were up 22.3%, grains up 11.8% and meat/poultry products up 4.1%. Food sector contributed to the National CPI increase more than 75%.
Based on the comparison between Taobao CPI and National CPI, Taobaodiscover's senior analyst predicts that China’s economy is cooling down as National CPI will drop either at the end of this year or early next year.
TaobaoDiscover.com team, the best talents with cross-culture background, help you to understand the dynamic of Chinese economy and provide you with the real time analysis.
The main difference between Taobao CPI and National CPI is: Taobao CPI reflects the prices of smaller categories of goods and gives more weights to consumer goods (such as apparel, digital products, and cosmetics), which have high price elasticity and no rigid demand; National CPI weights more on food products, which have low price elasticity. Therefore, Taobao CPI is more sensitive to the price change than national CPI. This means the change of Taobao CPI is prior to the change of National CPI.
In July 2010, Taobao CPI rose slightly at 0.1% from 6.9% in the same month of 2009. It dropped 6.8% from last month. It has been declined for 5 months from its peak at 12.9% in February this year
In Sub-sectors: compared to the same month of last year, Taobao CPI in food/health, living service, dress/shoes/bag sub-sectors had the most significant increase. Particularly, food/health sector had the largest increase to 10.9%. In contrast, collections, household items, maternity items, 3C Digital, jewellery are showing a sharp price decline. Most of sub-sectors emerged a general trend of decline from June.
National CPI climbed 3.3% from the same month of last year and 0.4% from June. Food prices rose 6.8% from July 2009 and 1.1% from June. This is mainly due to the severe flooding weather across China. Fresh vegetable prices were up 22.3%, grains up 11.8% and meat/poultry products up 4.1%. Food sector contributed to the National CPI increase more than 75%.
Based on the comparison between Taobao CPI and National CPI, Taobaodiscover's senior analyst predicts that China’s economy is cooling down as National CPI will drop either at the end of this year or early next year.
TaobaoDiscover.com team, the best talents with cross-culture background, help you to understand the dynamic of Chinese economy and provide you with the real time analysis.
Adidas Sport (China) opens its flagship online store on TaoBao
The "Daily Economic News" reports that Adidas Sport (China) and Taobao jointly announced a strategic co-operation, Adidas opens its flagship online store on TaoBao.
Christophe Bezu, Adidas Greater China president, said: " Adidas will leverage this opportunity to understand and meet over the Chinese online consumer demand."
Same as Adidas, more and more international brands have their online stories on Taobao, such as Dell, HP and Lenovo. TaobaoDiscover.com consulting services provide customized Chinese e-commerce solutions for North American SMB clients.
Christophe Bezu, Adidas Greater China president, said: " Adidas will leverage this opportunity to understand and meet over the Chinese online consumer demand."
Same as Adidas, more and more international brands have their online stories on Taobao, such as Dell, HP and Lenovo. TaobaoDiscover.com consulting services provide customized Chinese e-commerce solutions for North American SMB clients.
Small Medium Businesses in North America: Taobao Data Mining and Grow Effectively in China Market
The biggest challenge for most SMB from North America doing business in China is the lack of local knowledge and low marketing ROI.They lost their competitive edge because they are not marketing the businesses the right way
The largest China E-Commerce platform, Taobao, is releasing its database of aggregate consumer transaction records. "We will be sharing raw aggregate data with customers and users as we believe they will find this information extremely valuable in terms of planning and business growth efforts," said Jonathan Lu, president and CEO of Taobao.
As most SMB in North America are data-driven companies and already have a lot of experiences in using business intelligence. By data mining these Taobao transaction data, SMB can better understand local consumer behavior, make sound strategic marketing decisions and improve their product design and operation, which will help to identify their niche market in China and gain their competitive advantages.
Taobaodiscover.com,the market research firm specializing in TaoBao, will help you to overcome any cultural and language barriers in the data mining process.
Alibaba Buys eBay Auction eCommerce platform Auctiva
Chinese e-commerce giant Alibaba has just acquired Auctiva, a California tech company which develops tools for eBay retailers. Although terms of the deal were not disclosed, its chief, David Wei, told the newspaper that Alibaba has set aside $100 million for deals of this kind.
This deal follows Alibaba’s recent acquisition of U.S. e-commerce tech company Vendio Service. Auctiva provides a variety of listing, marketing and management tools as well as image hosting and storefronts to sell on online marketplaces like eBay.
Alibaba Group says that the deal will help provide tools and resources for North American SME looking to leverage e-commerce. Auctiva’s technology and service will be integrated with Alibaba’s online marketplace.
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