U.S. Retail Are Taking the Singlesday Sale through Pricing While China Is For Experience
It is the growing difference between the winning retailers against the losing one. It should be noted that US retailers focus more on pricing and product while their Chinese counterpart give shoppers the experience. Though the US consumers remain healthy, it is the traditional brick and mortar retailers that are suffering from loss. While those that have invested in online and in-store sales have gained better sale results.
Online retail gaining growth
The most known companies are Target and Walmart where their annual sales growth per year is hitting 40%. It was also noted that the big difference between retailers that have loss and those which are winning are the debt and taxes. The tax reduction 35 to 21 percent after corporate taxes can only be enjoyed by companies that profits, those that did not are not benefiting from this tax-cut. On the side of being in debt, those who are heavily in debt cannot reinvest to bring their business back.
Singles Day sales beating both Cyber Monday and Black Friday
In the case of online sales in China for Singlesday which happen to be bigger compared with Black Friday and Cyber Monday sales combine was thought to be due to the fact that China have higher population than U.S. However, the success was not entirely due to that since but is also considered as an effect of the strategy that was employed. Chinese retailers focus on the experience rather than prices. Take for example US retail sales run with a price driven concept while the Singles Day in China was made with a premise for fun and socializing through games and entertainment.
The Singles Day phenomenon was set with a single day event that has more focus while the Cyber Monday and Black Friday Sales spans in a longer time