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Chinese customers hunt for deals online

Reporter: Ning Hong 丨 CCTV.com

11-26-2016 13:03 BJT

China is also not missing out on this shopping holiday. More and more websites are helping Chinese customers join the Black Friday frenzy.

Two weeks after spending close to 18 billion dollars in just one shopping day on Singles’ Day, Chinese online shopaholics are embracing another big buying opportunity in the U.S. “Black Friday.”

Some American companies are going after the Chinese market. Just last year, Costco opened a virtual storefront, Tmall, China’s largest online e-commerce platform owned by Alibaba.

The Chinese national shopping bonanza “Double Eleven” or “Singles' Day” targets daily necessities. But many see “Black Friday” as an opportunity to attract less price-sensitive consumers to western lifestyle. from fashion brand handbags to tableware. 

"I joined the Black Friday shopping trend last year. I spotted a $725 (5000 yuan) Coach handbag was only $115 (800 yuan) on a overseas shopping app during Black Friday sales. The shipping took only one week. I checked the handbag, and it was genuine," said Black Friday shopper Gao Jiayi.

There are increasingly more websites and apps participating in the “Black Friday” frenzy. Dealmoon.com was originally a discount info gathering website; now it provides shipping details.

The e-commerce site Kaola.com, launched by NetEase, is a newcomer in this market, yet its direct sales network is growing. Ymatou, on the other hand, allows people from all over the world to buy goods from their local stores and sell them to Chinese consumers.

"We don’t do a 'Double Eleven' sales campaign, but we do prepare for the “Black Friday” event. All these overseas online shopping websites sell different things. For example, shopbop.com is mainly focused on bags and accessories; other business to consumer websites deal with healthcare or mother and baby items," said Cai Hua, co-founder of Ymatou.Com

There’s no confirmed figure on how much the Chinese spend on “Black Friday.” But according to the co-founder of Ymatou, the company sold nearly $9 million worth of goods in the first 10 minutes when sales started last Friday a sign analysts say that shows Black Friday in China is growing in popularity.

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