Consumption: China celebrates "Self-Defeating Day" – and online retailers create record sales – Company – Current economic and financial news



32 min.

Nine years ago, the online seller Alibaba invented the day itself. Customers order as world champions. How the company also uses customer data.

China at the heart of shopping: On the most important consumer day, November 11, online salesmen again achieved record sales. Consumers ordered goods worth nearly 30 billion euros from Alibaba's online trader until Sunday night. They exceeded last year's sales by more than a third. For economists, this is a sign that the Chinese economy is still working well. And the founder of Alibaba Jack Ma, who already has billions, has become even richer.

For the company is 11.11. In the meantime, it is a celebration of collecting customer information. "Alibaba is primarily a data-based company, not an online retailer," reads the self-employed. "Soon we will remove the term" e-commerce "from our dictionary," said founder Jack Ma. A clean store, online or offline, is an "obsolete concept". They are the fastest growing in the engineering group, artificial intelligence departments, computer-aided financial services and the assessment of large databases. The company wants to focus on this.

"Salt Day": sales increase by a factor of 3800

No day in the year now does not produce as much consumer data for the company as 11.11. The story of the day of individuals began with the idea that Jack Ma ordered his market people. For the first time in 2009, its commercial websites offered singles perks on a number of days a day. During this time, its websites, such as Taobao.com and Tmall.com, sold goods worth nearly eight million euros. In only a decade, sales have increased by a factor of 3800 since then. Platform vendors will launch around a billion packages in the next few days.

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Hundreds of thousands of orders for "Single Day" per second

Alibaba computers received hundreds of thousands of orders per second at Sunday peaks. In the meantime, citizens of the country eagerly filled in virtual shopping carts: the higher the value of the order, the higher the discount. With spectacular results. The daily turnover of € 30 billion corresponds to approximately online retail revenues generated in Germany in half a year. It just reaches Panama's annual gross domestic product.

Alibaba sincerely deals with the use of collected customer data to the maximum. In China, there is generally little concern about privacy. And citizens tend to trust their online services for the rest of their lives.

There are almost no questions about Chinese consumers that Alibaba can not answer. In the real world of Alibaba, too, Consumer Data persistently collects: in more trade, the cameras are accompanied by a patrol. The computer identifies Alibaba clients by its image of the face recognition profile. Products that people stop for longer or collect in their hands add the system to their electronic file as potentially interesting. Meanwhile, the background software is becoming increasingly sophisticated. Visitors to the platform offer almost unbelievable certainty about the products they are likely to want.

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