The Chinese e-commerce company Alibaba
Alibaba is the largest e-commerce company in China. The “Singles day” event in China, the holiday was invented by Alibaba in 2009 as a play on a two-decades-old celebration of China’s bachelors. During the Single day this year, Alibaba has generated more than 9 billion dollars in one day which I think it is amazing. So, how can Alibaba make this day so powerful that everyone buy things from it in China?
I think there are something related to the class that will help us to understand the question. I think there are information based and direct benefits which are related to Alibaba’s strategy. First of all, they make everything very cheap just on that day, so people see the benefits from there. Therefore, everyone is gonna buy something during that day. Second of all, if a person see others are buying things from Alibaba, and he or she gonna follow that action because he/she would think others have more information that him or her.
Link: http://www.marketwatch.com/story/alibabas-singles-day-bigger-than-black-friday-2014-11-10