Alibaba Group Holding Limited (NYSE:BABA) today officially kicked off the 2018 11.11 Global Shopping Festival in Chinas capital, promising this years mega-event will be the largest-ever in terms of scale and reach.
Businesses within the Alibaba ecosystem will jointly offer hundreds of millions of consumers an enriching experience that supports their pursuit of high-quality products, entertainment and fast, reliable services. The Festival will also demonstrate the enthusiasm of consumers and brands embracing Alibabas New Retail strategy “ the convergence of online and offline retail through technology.
This year marks the 10th anniversary of 11.11. On the back of Chinas explosive digital transformation, the Festivals astounding growth over the past decade has powered the steady growth of quality consumption sought by Chinese shoppers. The evolution also showcases the development of the Alibaba ecosystem over time expanding well beyond e-commerce, said Alibaba Group CEO Daniel Zhang.
Zhang conceived 11.11 as a concept a decade ago, turning Singles Day on the Chinese calendar into the worlds largest annual shopping event. The first 11.11 in 2009 brought in US$7.8 million in gross merchandise value (GMV). Total GMV generated in 2017 was US$25.3 billion. Over the past decade, Chinas number of Internet users has risen to 802 million and 98% of them are mobile1. Alibaba has captured the hearts and minds of these Chinese consumers and expects to keep leading the way in retail innovation.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
Over the last two years, we have pioneered the concept of New Retail to accelerate the digital transformation of the offline. We are excited by the impressive results achieved to date and will continue to be the driving force innovating for merchants and customers in the coming decades. We aim to become both the number-one business partner for brands and the number-one shopping destination for consumers, Zhang added.
This year, 500,000 items will be available for pre-order on Tmall from October 20. Customers can enjoy additional promotional coupons on Mobile Taobao and Mobile Tmall. Specifically, the 2018 11.11 Global Shopping Festival will have the following features made possible by New Retail and interactive initiatives:
- Brand Innovation Tmall will continue to give brands access to new digital capabilities “ 180,000 brands from China and around the world will participate in this years celebration. 200,000 smart stores in China across the apparel, fast-moving consumer goods, beauty products, automobile and home dcor industries will help boost traffic to offline and online shopping destinations. Tmall Global provides 3,700 categories of imported goods from 75 countries and regions on its platform.
- International Consumers Tmall World, AliExpress and Lazada will bring the event to hundreds of millions of overseas users, making 11.11 a truly global event. Lazada will host its first 11.11 Shopping Festival across six countries in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam, offering more engaged consumer experience and the biggest discounts of the year from LazMall and Lazada marketplace.
- Participation of Local Services Ele.mes on-demand platform will provide delivery services for select Starbucks stores across 11 Chinese cities, including full-service coverage in Beijing and Shanghai. In addition, 150,000 merchant partners of Koubei will offer half-price discounts on catering, beauty and hair salons and karaoke bars.
- New Opportunities for Small Merchants 200,000 mom-and-pop stores powered by Alibabas Ling Shou Tong (which translates as retail integrated) will provide online sales promotions, along with augmented reality-based red packets that offer discounts at 3,000 Tmall Corner Stores. Rural Taobao will also bring coupons to its services in 800 counties across 29 provinces in China.
- Dining and Supermarket Hema supermarket will designate 11.11 signature stores featuring a number of promotions. RT-Mart will complete the makeover of its nearly 400 stores, fully equipping them with New Retail capabilities.
- Star-studded Entertainment Tmall Collections See Now, Buy Now Fashion Show will be broadcast live on ten platforms including Taobao, Youku, Weibo and Toutiao on October 20, starting at 6pm in China. This will provide millions of customers the opportunity to buy their favorite items on the spot and vote for their favorite looks to create a trend report. In addition, the signature countdown Gala will be held on November 10 in Shanghais Mercedes Benz Arena, featuring renowned stars.
About the 11.11 Global Shopping Festival
The 11.11 shopping festival began in 2009 with participation from just 27 merchants as an event for merchants and consumers to raise awareness about the value of online shopping. Last year, nearly 140,000 brands and merchants participated in the event, with consumers spending RMB168.2 billion (USD25.3 billion) during the 24-hour period. For additional history and facts from last years festival, as well as the latest news and updates on the 2018 11.11 Global Shopping Festival, please visit Alizila: http://www.alizila.com
About Alibaba Group
Alibaba Groups mission is to make it easy to do business anywhere and the company aims to achieve sustainable growth for 102 years. For fiscal year ended March 2018, the company reported revenues of US$39.9 billion.
1According to CNNIC report on Aug 20, 2018
Alibaba Group Holding Limited
150 2192 5635
+86 186 5817 0996
+1 917 528 1992
+44 (0) 20 7 3958330