Big Black Friday discount to boost overseas online purchases

The Black Friday shopping seasonThe Blackis expectedFriday shoppingto spur Chineseseason is expectedonline purchasesto spur Chinese overseas online despite purchasesthe recent overseas weakening despiteof the the yuan. recent weakening Ymatou.com,of the a yuan. Shanghaibased Ymatou.com, e-commercea Shanghaibasedcompany dedicated e-commerceto overseas companyproducts, dedicatedhas to already overseas rolled products,out specialhas already offers rolled days out before specialthe shoppingoffers days season before andthe shoppinghas seen rising season and has sales comparedseen rising with sales last comparedyear. with last year.

TheThe company company said said it soldit sold 60 60 million million yuan yuan ($8.67 ($8.67 million)million) worth worthof goodsof in goodsthe firstin the 10 first minutes10 when minutes the sales when startedthe sales last started Friday, lasta week Friday, earliera weekthan the earlier official than startthe officialof the start shoppingof the season. shopping season.

An An 88,999-yuan88,999-yuan BirkinBirkin bag bag was was snatchedsnatched up up withinwithin two two minutesminutes and 320 Canada320 Canada Goose jackets priced jackets over priced 5,000 over yuan 5,000were sold yuan out werein an sold hour. out in an The hour. yuan further weakened on The Thursday yuan to furtherpass the thresholdweakened of on 6.9 Thursdayagainst the US to pass dollar. the threshold“The depreciationof 6.9 againstof the the US yuan does not dam pen the dollar. frenzy “The of shopping depreciationabroad as of mostthe yuan Western does productsnot dampenon sale the are frenzystill quite of cheap shopping compared abroad withas mostsame Westernproducts productssold in franchisedon sale are storesstill quitein China,” cheap compared Zeng Bibo, chief with executivesame productsofficer of sold ymatou.com,in franchisedsaid on Thursday.stores in China,” Chinese Zeng middle Bibo, class chief shoppersexecutive are officer becomingof ymatou.com, increasingly said sophisticated.on Thursday. “They want to buy Chinese high-qualitymiddle class products,shoppers enjoy are good becomingservices and increasinglylive a tasteful sophisticated.life,” said Zeng. “They want The to Black buy Friday high-quality shopping products,season seems enjoya good good opportunityservices and for live thema tastefulto live life,” such livessaid Zeng.at a relatively low cost. The shoppingThe Black festival Fridayis a periodshopping when season retailers seemsoffer massivea good opportunitydiscounts to for attract them consumers.to live such lives at a relatively low cost. Chen The Tao, shoppingan analyst festival with is a Beijing-basedperiod when internet retailers offerconsultancy massive discountsAnalysys, saidto attract Black consumers.Friday has been growing in popularityChen Tao,in China.an analyst with “But Beijing-basedit is still in its infancy internetin consultancyChina, and its Analysys,size is quite said Blacksmall comparedFriday has with been China’s growing homegrownin popularity online in shoppingChina. festival“But it Singlesis still Day,”in its he infancysaid. in “As China, Chineseand its middlesize is quiteclass shopperssmall comparedare becomingwith China’sless and homegrownless price online sensitive, shoppingwhat they festival care Singlesmost about Day,” in he crossbordersaid. “As Chinese shopping middleis the quality class and shoppers brands are of becominggoods, lessfast deliveryand less and price good sensitive, return whatpolicy, they which care mostwill be aboutthe keyin crossborderareas for online shopping retailersis theto work quality on,” andhe added. brands of goods, fast delivery and good return Insidepolicy, which will be the key areas for online retailers to work on,” he added.

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