Have you ever heard double 11, single’s day.
While in China, the double 11 is largest shopping festival. The retailers would give huge discount on this day. And it was established by a Chinese company called Alibaba. While in 2016 November 11th, just for this day, the daily business transaction was 100 billion rmb, which was 15 billion dollars. Well, in 2017, we could expect a bigger daily transaction. Because that the double 11 had became international.
In NewYork, there has fliers about Chinese double 11 shopping festival on the street. The fliers taught you how to ordered goods from Tmall. Now people can purchase goods with PayPal directly. And it turns out, even count those selling taxes and shipping fee, the price of the goods are even cheaper than people purchasing in local US.
While, the outlets and 7-11 in New York has already support Alipay payment. Alipay is quite like PayPal in China, but it has became another living method for Chinese people. . In China, we can almost pay everything with Alipay. For example, I feel hungry while walking in the street. I can get into any food store, order a fried chicken and pay with Alipay, which installed in my cellphone. With Alipay, most area in China already living in a cash-free life style. While with the development of double 11, a bunch of Chinese restaurant in US decided to launch Alipay. What’s more, I didn’t need to convert RMB to local currency, it automatically converted RMB to US dollars with normal rate and no extra fee.
Alipay has been covered in more than 33 countries, where tourists pay as they have a global purse with no extra fee, and the whole process is less than 10 seconds, just scan a QR code and enter passwords.
In some level, Alipay helped the development of tourism over the world.
So, I think the double 11 become international is a form for globalization and development of technology. People purchasing more online instead of in the base shop.