You must also have heard about the famous E-Commerce company Alibaba. It was founded by Jack Ma in the year 1999. The name was chosen because it was a globally recognised word you don’t need to explain it. I hope you know about what is Alibaba and 40 Thieves. The story is famous for the Middle Eastern folktale.
Well in this blog we will look into the company and how it has grown very massively over the decades. And look into the 6 strategies on how the company is being a successful platform in the e-commerce business throughout the years.
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what is Alibaba’s e-Commerce company?
It is one of the world’s largest e-commerce company in the world. It is an online digital platform where they sell products and things online.
I bet you didn’t know the fun fact about this e-commerce company they have a day called “Single’s Day”.
It happens on November 11th every year.
It is a 24-hour shopping extravaganza.
And this has become the world’s largest online shopping day.
It has surpassed the Black Friday and Cyber Monday sales combined.
Branches of Alibaba Group
It has other businesses and they are as follows:
Cloud Computing service
Financial services and there are much more things they are involved in.
The success of this ecommerce company is not bound to that country alone. They have been successful in South East Asia and in the United States as well.
As the predominant eCommerce company, it has invested in cutting-edge technology like artificial Intelligence and cloud computing that enhances the user experience, logistics and even chatbots.
Six Strategies for Alibaba eCommerce company success
The founder Jack Ma used some strategies which helped the company’s success. Let us look at it one by one.
The first is called creating a link between online and offline retail stores. Back in 2014 when there was no such thing as online shopping and e-commerce shopping platform. So he introduced a seamless link up how to people get into an online shopping mode. So this initiative made people buy on online shopping platforms.
It stands for a true omnichannel e-commerce platform. It has brought a very larger eCommerce platform that can offer the following other things that it has inculcated into its store.
It has a number one feature scan and go you don’t need to wait for the product that you have purchased, pay for it. Now you can just scan the QR code and pay and move on easily.
The second thing is personalized shopping recommendations. They have a number of personal product recommendations for customers which make them buy products.
They introduced a new feature called digital payment and where you can even pay through your face this technique. It has been very curious to people so they bought products just for the sake of trying the way how digital payment works.
As you must have recognised the platform is so successful they focus on fast shipping. They delivered the groceries within 30 minutes. They give free delivery and this has been very appealing and easy for people to order groceries and get them in under 30 minutes. This made people purchase more from this platform.
It developed not only as an E-Commerce retail platform but also as a platform for food. They came up with products that combined groceries and food.
Another strategy that worked for this e-commerce company’s success start the invested more in brick and motor retailers this investment made them get more in return.
As the largest E-Commerce platform, you must wonder and agree that they have invested in the Warehouse store.
Another strategy that works for this ecommerce is community buying. It is a popular trend that has been practised in China where a group of community people go and buy products in bulk at a very lower price. This has been a very great strategy for e-commerce platforms to sell products in bulk. Pinduoduo is an example of this community buying a practice. It started only 6 years but there are over 800 million users under this community buying habit.
As this company was predominant in China they didn’t stop marketing only in that country alone.
They expanded overseas and they made it into the international market to success.
The popular and great eCommerce company has over 2 lakh and 44000 employees who work full time. There are more than a billion active users every year in the Alibaba ecosystem. And there are millions of products that have been distributed from 5600 industries. All these are always available on the alibaba.com website.
Jack Ma was an English teacher do you believe that? And the annual income of this eCommerce in the past year was said to be 9.774 billion dollars. It has Goldman Sachs as one of the investors in this group of companies.
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What is Alibaba’s e-Commerce company?
It is one of the world’s largest eCommerce company in the world. It is an online digital platform where they sell products and things online.