If you believe Black Friday is the world's biggest sales day, you should know that is simply not true — and we are going to explain why…
The actual record-breaking date is November 11, and in just one hour, Alibaba alone reached twice the total sales recorded during the 2018 Black Friday in the US.
That amounts to $13 billion in purchases in the very first hour of the day.
Black Friday was enthusiastically embraced in Brazil, as every retailer recognized that this SINGLE event can impact the results of an ENTIRE year of sales. As a result, Black Friday became embedded in the commercial calendar as a way to boost year-end performance.
Are you familiar with Singles' Day?
It originated in 1993 in China as a counterpoint to Valentine's Day. The purpose of the date was to encourage single people to find their romantic partners.
But from 2009 onwards, as the date gained popularity and millions of Chinese consumers incorporated it into their calendars… Alibaba, led by Jack Ma, saw a major business opportunity and transformed Singles' Day into a day to "treat yourself."
What had been born as an opposition to Valentine's Day became Black Friday's main rival — one of the biggest mass-sales events in the US that kicks off the Christmas shopping season.
Want to know how this rivalry between the US and China plays out?
In 2018, while the US totaled $6.2 billion in sales (according to Adobe Analytics), Alibaba alone sold $30.8 billion, breaking yet another record.
As we write this, with Singles' Day still underway in China, a new record has already been set, reaching $31 billion in sales so far.
In other words, Alibaba alone surpassed the biggest American Black Friday by more than 500% — on a day that has not even ended yet.
A few strategic differences go a long way in explaining the gap between these two giants…
For instance, the world's most populous nation is also known for having one of the greatest technological advantages of the 21st century — and Alibaba is the largest retailer operating within it.
That position, combined with technological dominance, grants Alibaba one of the most advanced logistics systems in the world. Its staggering product variety, deliverable worldwide, has made Alibaba one of the largest e-commerce platforms on the planet.
Without a doubt, online sales are the primary driver behind the colossal difference between Black Friday and Singles' Day.
Alibaba is a case study that illustrates exactly how China managed to grow so significantly on the world stage and stand up to the current largest nation in the world, despite being an emerging economy.
And speaking of emerging economies…
We have much to celebrate in China's growth and technological dominance, because few countries stand to benefit from it as much as Brazil…
— We can sell to the market with the highest number of buyers in the world
— Some of the world's largest investors can be attracted to your business
— The leading technological solutions your business or ideas need are on their way
China is arriving in Brazil, and it is time to learn how to do business with this new land of opportunity. Because partnerships are already being forged…
From those partnerships, Brazil's first and largest unicorns emerged (99 and Nubank)… Can you imagine what the impact of a partnership like that could mean for your business today?
However, understanding the Chinese mindset and learning to negotiate with them correctly is no easy task… our cultural differences are very much present in those moments.
But if you want to learn the best ways to get to know and connect with Chinese companies — even if you have never set foot in China — we invite you to explore the course Decodificando China, developed by our Head of StartSe China and one of today's foremost experts on the Chinese ecosystem and business models, Ricardo Geromel.
>> Enroll HERE in Decodificando a China
In it you will learn:
— How China became the global power it is today;
— How to engage with companies from Brazil's largest trading partner;
— The tools China used to revolutionize its markets and sustain a constant flow of innovation;
— Each of China's innovation hubs, their differences, and which one is the best fit for your company;
— The strategies Chinese startups and companies use to compete with global giants;
— Case studies to inspire you and show you in practice how to bring this "Chinese model" into your own business.
An exclusive course available at its launch price only through this email.
If you want to learn how to do business with the future largest nation on the planet for just 12 x 9.90 reais, access this link now.