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It's one of the biggest online shopping sites in the world
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Let's check it out. Dave Taylor here, and I'm checking out olibaba.com
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It's one of the biggest e-commerce sites in the world, part of Alibaba group, and I bet you've never even been there
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So, let's check it out. The best way to think about Alibaba is that it's like the world's biggest bazaar or outdoor shopping shopping
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facility, right? So they have food, they have books, they have bicycles, they have
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furniture, but they also have if you go to the edges you can find electronic
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components, you can find a box of 5,000 screws, you name it somewhere there's a
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merchant selling it on Alibaba. For example, let's check out furniture. People
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actually buy furniture online all the time now, so let's look and see what they
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have in the way of bedroom furniture. Now on top are featured suppliers and you
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can see we have mattresses and bed frames and wow though that's a pretty
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funky looking bed here. Let's have a closer look at this and this also gives
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us let go to the picture preview and that that looks like something you find out a luxury yacht That actually pretty awesome But notice that they have different quantities and quantity discounts Now you
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wondering who the heck would buy 50 of these? And the answer is a business, right? If you run a
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warehouse or you have your own bed company, you might sell beds to people and you might say
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look at this. If I buy one unit, it's $480. But if I buy 50 units, they're down to $286 each. So if I'm selling them for, let's say, $500, then I get no profit off the individual units, but I make a decent amount of profit if I buy them in quantity. That's really the heart of Alibaba. But of course, you can search for all sorts of things. Let's search for watches, right? So
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There are lots and lots and lots of watches here. And I actually am a watch collector, a small watch collector
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So I love looking at watches. But, you know, let's look at something else too
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Let's look at active noise-cancelling headphones, right? So we'll look here. And so if you've been to Best Buy recently, you know ANC headphones
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They're probably like $100 to $300 or thereabouts. But if we look here let look in noise headphones and it looks like they mostly earbuds up top but here we go Here are ANC headphones right for computer gaming quantity of a hundred and they three to four dollars per unit
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Wow. So you could get these and give them to people, right
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You can host a gaming event and give everyone a pair of these headphones. I mean, at $4 a pop, that's pretty painless, right
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olibaba.com is really fun to check out honestly even if you're not in the market or not shopping just to see the broad range of different products out there there's so many different pieces that go into the products and devices that make up our daily lives so all of that's happening if you're in africa india eastern europe yes north america it's all going to be stuff you can find on olibaba dot com and heck if you're in asia and
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80% of online commerce transactions in Asia are part of the Alibaba group
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That's market penetration. Very impressive. Now, I'm going to do a group of videos
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So this one is the overview. Next, I'm going to actually buy a watch through olibaba.com
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Well actually since it really more business to business rather than business to consumer I going to end up having to buy a quantity of watches Fortunately this particular manufacturer offers quantity two So yes I going to buy two watches which is going to work out really well
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And then a couple of weeks later, I'll be doing an unboxing of those same watches when they
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finally arrive. And finally, I'm going to have a fourth video talking about entrepreneurial opportunities because
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olibaba.com makes it pretty darn easy for you to find products in demand
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buy them at a very low per unit price, mark them up, and then sell them through Amazon
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eBay, Craigslist, your own website, whatever you want, right? And that's really sort of the lifeblood of e-commerce and lifeblood of capitalism
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Buy low, sell high. So I'm going to show you how you can use olibaba.com to do just that
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So we're going to check all that out. But for right now, I'm going to go ahead and keep poking around on the side
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because it's so darned interesting. So I'll check you in my next video
