Lifestyle

10 Facts About Taobao You Probably Didn’t Know Of

2017-08-10 , 5:45 pm

Taobao is one of the greatest saviours of all times for men and women of our generation. It saves us countless amount of money and yet satisfy our needs to shop, shop and shop!

Established in 2003, Taobao.com is one of the largest customer-to-customer (C2C) online platform in the world, and possibly the most profitable too.

Despite our frequent visit to this marvellous site, there are some things we found out about Taobao besides shopping.

Taobao is the second venture of Jack Ma, the founder of the crazily-popular Alibaba online global sourcing platform.
Jack Ma was told he was crazy when he first conceived the idea for Alibaba. After proving all his naysayers wrong, he went on to found Taobao, which also become popular worldwide.

Taobao has outsold eBay and Amazon combined based on gross trading volume
In 2015, Taobao outsold eBay and Amazon combined with a sales record of 91.2 billion yuan (US$15.2 billions) on Single’s Day (11 Nov). That is what they sold in 24 hours! How crazy is that!?

Taobao did not have a proper paying system until Alipay comes along
In the past, buying on Taobao means you need a China bank account because you need to settle payment to the seller via bank transfer or bank deposit. Now, it is easier with Alipay.

Taobao opened Tmall to protect popular brands from fake goods
Those who shopped at Taobao will know that there is another platform called Tmall, in which shops and brands set up their own outlets instead of going through a third party on Taobao. This is to boost the confidence level of shoppers on Tmall as there are simply too many fake goods on Taobao.

Taobao earns up to 6 times more the international commerce for Alibaba
When it comes to earnings for Alibaba, there is a huge inequality between Taobao and the rest. Taobao alone earns up to 6 times more the international commerce run by Alibaba. In 2013, Taobao amassed US$4.69 billion in sales while international commerce only accounted for US$669 million.

Taobao’s business model is really simple
If you think that Taobao has some really complicated ways to earn money, you may want to think again. Their way to make money is simply through online marketing services, commissions on transactions and storefront fees.

It is not free to set up a store in Taobao
This is not surprising since nobody will let you have a space to sell your products and let you earn everything. New sellers have setup expenses such as security deposit, online shop design, stock management and using their computing programs.

Taobao is a big creator of jobs in China
Taobao has created 9.7 million jobs in China since it was opened, and China has reaped much socio-economic benefits. The three sectors that have benefitted the most are logistic, information technology and manufacturing.

There is no gender bias on Taobao
You might think that there is a wide gap between women and men when it comes to online shopping. You are wrong! The gender ratio of Taobao shoppers is 50:50 with men interested in electronic gadgets and women in fashion.

Taobao ranks in the top 15 most visited sites in the world
Taobao ranks number 11 in the list of the top 15 most visited sites in the world. It has more than 127.5 million unique visitors every day and over a billion page views per day!

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This article was first published on goodyfeed.com

10 Facts About Taobao You Probably Didn’t Know Of

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