Posts tagged with "Online"

Prime time: In rivalry with Amazon, Target offers ‘deal days,’ eBay plans a ‘crash sale’

June 27, 2019

Amazon is promoting its “Prime Day” again—but other retailers aren’t going to be caught out again this year. They are offering a bevy of their own deals, which they hope will dazzle shoppers and draw them into their websites and brick-and-mortar locations.

According to a report by CNBC, both Target and eBay so far have announced their own deal strategies following Amazon’s announcement on June 25—in which the company said Prime Day will actually run for two days this year and begin at midnight (PT) on July 15.

Target is plugging its “deal days” on July 15 and 16. The discount chain said in a June 25 press release, “Savers, start your engines. Today we’re unveiling Target Deal Days, two (yep, two!) days of red-hot online sales, no membership required. On Monday, July 15, and Tuesday, July 16, you’ll be able to save big with thousands of deals across Target.com and on the Target app, with new deals each day.”

As it says above, Target is emphasizing that no o membership is required to shop the special deals—as is the case with Amazon’s event. Customers can also receive 5% in savings when they use a Target credit card.

Last year,  CNBC reminds us, Target held a one-day sale on its website that aligned with Prime Day. It was one of the retailer’s biggest days of the year for online sales, according to Target’s Chief Merchandising Officer Mark Tritton.

Amazon rival eBay, meanwhile, is holding what it calls a “crash sale.” It said it will start offering some deals as early as July 1. But on July 15, it will be offering deals on major brands including LG, Apple, Samsung, KitchenAid, and Garmin.

What’s more, eBay snarks,  it will drop more deals if Amazon’s website crashes, as it did last year at the start of Prime Day.  “July has become a massive shopping season,” Jay Hanson, COO of eBay’s Americas division, told CNBC.

On Prime Day, which started in July 2015 as a way to mark the company’s 20th anniversary, Amazon Prime members can buy highly discounted products. The deals are applied to most of the goods Amazon sells. And many items will sell out within minutes, creating a sort of Black Friday scramble where people are trying to buy things as quickly as possible.

Amazon said last year’s Prime Day was its biggest ever, topping a record in 2017. And so it’s plausible this year could be even more successful since it runs longer, CNBC says.

Amazon shares are up about 25% so far this year. Target’s stock has rallied close to 30%; eBay shares are up more than 39%.

Research contact: @CNBC

How China’s ‘Singles’ Day’ became biggest shopping event ever

November 5, 2018

Singles’ Day, celebrated on November 11, is now the world’s biggest online shopping event—so much so that a countdown clock on the website shows the days, hours, minutes and seconds until shoppers in China and worldwide can claim their discounts (some of them, up to 95%) from a variety of retailers.

In less than a decade since Singles Day was first celebrated in China in 2009, Alibaba Group Holding has turned a quirky celebration for unmarried young adults into a global extravaganza drawing in thousands of retailers and hundreds of millions of shoppers of all ages—hitched or otherwise, according to a November 1 report by Bloomberg.

Just how big is this shoppers’ holiday? More than twice as much merchandise is sold over the 24-hour period as during the entire five-day U.S. holiday-buying spree that begins on Thanksgiving, runs through Black Friday and ends on Cyber Monday. Every year has exceeded the one before, with last year’s sales climbing 39% to 168.2 billion yuan ($24.2 billion). That’s on par with the gross domestic product of some smaller European nations. Most of the buying was via Taobao and Tmall, Alibaba’s main shopping sites.

This year, the shopping experience has spread to other e-commerce operators and will include more brick-and-mortar stores than ever before, the organizers claim. But Bloomberg says there is one, big unknown: To what extent, if any, the brewing U.S.-China trade war will cut into Singles’ Day sales.

It remains to be seen whether a depressed Chinese stock market and higher import tariffs resulting from U.S.-China trade tensions will curb consumers’ enthusiasm. On the other hand, Alibaba has significantly boosted the brick-and-mortar element of Singles’ Day by accelerating its investments in malls, convenience stores and food delivery services — part of what it calls its “new retail” initiative.

Essentially, Bloomberg reports, any transaction made via payment service Alipay will count. The initiative involves equipping traditional retailers with new technology to manage inventory and to serve as distribution centers for online shoppers, as well as connecting mom-and-pop stores to its platform. There are also 200,000 so-called smart stores that seek to combine the online and offline retail experience

While the Chinese mainland continues to dominate sales, according to the Bloomberg report, Alibaba continues to make it more global. That means getting foreign brands involved in selling to the Chinese. It’s also working to promote its English-language websites.

Research contact: @luluyilun