DANGDANG: Amazon.com of China?
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Code : COM0003
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Region : China
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Introduction:This vision of Jeffery Bezos, which beamed the successes of electronic-retailing (e-tailing) in the US in the 1990s, had been spreading fast across the world with a barrage of websites flooding the electronic marketplace. In China, Peggy Yu (Yu), a US-returned business graduate, with a vision to dominate the Chinese e-tailingmarket on the lines of Amazon.com (Amazon), co-founded Dangdang in 1996 with her husband, Li Guoqing, as a company maintaining database of books-in-print. In 1999, Yu launched Dangdang.com(Dangdang), in China, as an online book retailer. By 2000, besides books, Dangdang was e-tailing CDs and DVDs. Dangdang grew froma modest 70,000 visitors and 1000 orders per day in the year 2000 to 800,000 visitors and more than 4000 orders per day3 by 2003. Despite various hurdles in conducting electronic business in China, where online retailers like chinabooks.com crashed in 2000 (after losing $120 million in three and a half years of its business), Dangdang succeeded in ranking among the top 3 online e-tailers in China in 2003 – a significant achievement for PeggyYu in realizing her dreamof revolutionizing theway retailing business was conducted in China. |
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