Thursday, November 29, 2012

E-Commerce Chinese-style

$3.06 Billion In 24 Hours!

Yes, that is Billion with a 'B'!. It is reported that Alibaba shocked the web with news it's subsidiaries Taobao (like a Chinese Bay) and T-mall (like Amazon) sold a massive $3.06 billion in product in a single 24 hour period.

Apparently the two sites have a combined user base of over half a billion registered users and are looking forward to the day when a $10 billion day is within the realm of possibility.

Is it any wonder North American company CEO's salivate when they think about getting a share of the Chinese market? Put another way ... what is the BC Provincial budget to run the entire province for the whole year?


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