In a recent data compiled by e-commerce giant Alibaba, more women in China shop online during major sporting events.
Citing data from the Alibaba platform Taobao, Alibaba Group Vice President Jack Tu remarked that the increase in female shoppers jumped from 50 to 60 percent.
Speaking at a recent small and medium enterprise (SME) fair, Tu shared that women shoppers are also often willing to buy expensive items they would not purchase during typical days, adding that the largest percentage of transactions happen during the beginning of a game.
"If you are a vendor on Taobao, understanding such a pattern will allow you to promote products with better precision," Tu shared, highlighting the importance of the recently gathered data in creating better marketing and sales campaigns.
The Alibaba executive also emphasized that businesses today are not just competing on productivity; more are now utilizing knowledge and data to decipher market behavior.
In the United States, half of the SMEs are already using cloud computing services, Tu revealed. He noted, however, that in China, the percentage is still below 10 percent.
During the same occasion, he also promoted Tao Gongchang (with a domain name of 1688.com) and explained that the platform will help manufacturers go online.
Tao Gongchang was first launched in March 2014 and has since then attracted around 10,000 manufacturers, 30,000 active daily buyers, and 5 million yuan worth of daily transactions.
Apart from boosting revenues of manufacturers, Tao Gongchang was also able to reduce inventory, Tu remarked. Through the platform, goods can now be sourced simultaneously from several suppliers and be shipped faster.