Taobao – The Giant Online Market

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In today’s fast-paced world it is important to look and feel good along with saving precious time. A few years back, for anything you need or like to purchase you had to rush to different departmental stores as that was the only option to get dresses and other necessary items. Thanks to today’s e-commerce platform where consumers don’t need to spend their precious time and energy on searching for products in the store alleys and waiting in the long lines of the billing counters. Taobao is such an e-commerce marketplace which is very similar to the Amazon.com or Ebay.com. All you need to do is log in or sign up on their website or download the Taobao app in your smartphone for a relaxed shopping experience.
Taobao is a Chinese online shopping online which is a subsidiary of Alibaba Group. The meaning of Taobao is ‘searching for treasure ‘in Mandarin, and this online website is massively popular among the consumers of Chinese – speaking region such as Mainland China, Macau, Hong Kong, and Taiwan and also in abroad. It is world’s one of the biggest e-commerce website which features ten most visited global sites with more than 580 million monthly active visitors. Taobao has various categories and features a wide array of products in those categories of women, men clothing, shoes, bags, accessories, home appliances, mobiles, beauty, jewellery, accessories, furniture and health care.
When the American website ebay.com made expansion in China, Taobao was launched in May 2003 by Alibaba Group to give back a counter response to the former e-commerce market. Taobao which is a C2C platform, gave a considerable preference to the sellers for free listings of their products as opposed to the Ebay.com which charged the sellers for listing products on their website. Taobao was all set to rule over the business of China and hence, it set up few features in the site that were designed to suit local consumer’s best interest, like the instant messaging system, for secure communication between the seller and the buyer and escrow-based payment tool Alipay. Soon Taobao became undoubtedly the market leader within a couple of years, with a market share of 8% to 59%.

The Astronomical Growth Of Taobao

Taobao set up Alisoft.com which is a platform where sellers were able to buy customised software for the essential functions like customer’s relation, or managing inventory, from independent vendors. The grand introduction of the B2C venture of Taobao in 2008 was the Taobao Mall and the online shopping marketplace called eTao. Later on, the also started accepting VISA and MasterCard Credit and Debit cards in 2013. They also launched Weibo that allowed the users to link Sina Weibo accounts with the accounts of Taobao. One after another brilliant market strategies helped the Taobao Company to become the biggest online marketplace in the country.

Why Should You Choose Taobao?

There are several reasons to choose Taobao rather than another online marketplace, among them few essential causes are:
  • It is a part of Alibaba group and China’s most significant market It provides the expertise of best designers and experts which gives the taste of both world of style and comfort
  • It is accessible in many countries like Asia, Singapore, and New Zealand etc. which has a vast customer base all over the globe.