It’s hard to believe that any eCommerce retailer could possibly outdo goliath sellers like Amazon and eBay. However, that is exactly what an executive from a Chinese eCommerce site is claiming. According to Zeng Ming, the chief strategy officer for Alibaba, the company is slated to process more sales during this year than eBay and Amazon combined.
This is certainly a huge claim to make considering the astronomical amount of people that use Amazon and eBay to buy and sell used and new products. Just to put some numbers out there, Amazon’s net sales just for the first six months of 2012 were a whopping $26 billion. How does a far lesser known eCommerce site like Alibaba plan to beat a number that represents the slower half of the sales year? Although he did not go into details regarding marketing plans, Zeng Ming is confident that their projections will prove to be true by the end of 2012.
“From their annual reports we did a rough calculation and we were similar last year but we are growing faster than them this year, so this year we are probably larger than them,” Zeng Ming told reporters over the weekend, according to Reuters. ”The gap is just going to get bigger and bigger when we grow faster.”
With more than half a billion Internet users in China, the projections may actually prove true by the end of the year. This will be especially possible if those users are utilizing eCommerce like citizens of the United States do.
What do you think? Is it possible for Alibaba to outsell the top eCommerce sites eBay and Amazon? And not just outsell them, but to surpass their combined sales? Weigh in and comment below with your thoughts!