Just yesterday Gang reported on Tobao’s TMall amazing sales figures which hit 5.2 billion RMB with a transaction volume of an astounding 336.9 million in one day! The reason for this was a day long sale to celebrate Super Singles Day. I found out about the sale when I saw a colleague looking for a bargain and asked her why.
However suspicious reports have emerged about the genuine nature of the sales. Morning News has revealed that many buyers realized that some prices were exorbitantly increased and then discounted to make it look like there was a good deal going on. Some prices were even higher than retail prices at physical stores. One example was of a Longines luxury watch on TMall for 17,598 RMB retail and on sale for 8,799 RMB sale price. However, a retail store price only started at 10,900 RMB.
The huge amount of user traffic rushing to get a bargain also caused havoc with inventory management and the payment system.