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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 220

China Business Intelligence No. 220

Samsung Economic Research Institute Beijing Office

Jan. 4, 2013

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To win the intensifying market competition, retail companies in China implemented a new strategy, naming November 11 Guanggun Jie or "promotion holiday" to encourage consumption. Sales on Guanggun Jie have continued to multiply led by Taobao recording the highest sales of any national holiday in 2012. The fundamental reasons behind the surge in online buying on Guanggun Jie are higher income and changes in the consumption patterns of China's Internet users. Encouraged by the success, online retailers are expected to create more special days to encourage consumption. But to harness the special demand deriving from Guanggun Jie, online retailers need to improve their infrastructure in many aspects.

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