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  • It′s SinglesDay in Chinain other wordsthe biggest online shopping day in

  • the world. Thousands of Chinese online consumers are

  • clicking away before the day is up... and THIS is prompting Korean exporters to customize

  • marketing strategiesat least for todayfor the Chinese local market.

  • Our Shin Semin has this story. It was an impressive start.

  • E-commerce giant Alibaba Group logged over threepointnine billion U.S. dollars

  • in the first hour of China′s SinglesDay.

  • And the megaretailer′s total gross merchandise volume keeps on climbing,... as the 24-hour

  • deadline approaches. November 11thelevenelevenstarted

  • out as an obscure event in the 1990s,… where the country′s bachelors and the bachelorettes

  • celebrated being single. But in 2009, Alibaba turned it into an e-commerce

  • phenomenon,… with sales reaching nearly 9-billion dollars last yearall through

  • online shopping. It′s much like the U.S.′ Cyber Monday

  • or Black Friday,… except the size of SinglesDay sales is FOURTIMES that of Cyber Monday.

  • On this day last year,… Alibaba raked in total sales worth over 10-trillion won,…

  • or eightpointsix billion dollars,… which is 100 times more than what all Korean

  • online retailers combined have made in China in the past five years.

  • China′s online retail market only takes up 10-percent of the entire domestic market,…

  • a minimal portion for now. But the speed of growth is so fast it′s hard to predict.″

  • Ranging from electronic goods to clothing,… the sales event also brings in over fivethousand

  • overseas brand from 25 countries,… including Korea, U.S. and Japan.

  • It′s one of the better ways to publicize Korean brands to some 20-percent of the

  • world′s entire population online,... during a 24-hour window.

  • In order to turn this megasales event into a longterm opportunity,... local

  • exporters need to better come up with marketing tactics targeting specific age groupsmostly

  • those in their 20s and 30s,... and particular regions.″

  • With China rebalancing its economy to one based on consumer spending,... following

  • its slowing economic growth,... it has become much clearer,... that Korean exporters...

  • mulling over options to restructure their export strategies should put heavier emphasis

  • on shipping consumer goods to China. Shin SeminArirang News.″

It′s SinglesDay in Chinain other wordsthe biggest online shopping day in

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