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Alibaba Reports Strong Results for the First Sales Window of the 11.11 Global Shopping Festival

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Brands and retailers using Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) to reach Chinas consumers wrapped up the first sales period (November 1“3) of this years 11.11 Global Shopping Festival with strong results. To create more opportunities for new brands and small businesses to participate in Alibabas 11.11, this years festival is offering two shopping windows: November 1-3 and the day of November 11. Highlights from the first shopping window of this years event include:

  • Hundreds of millions of consumers flocked to Alibabas marketplaces at 00:00 a.m. on November 1 to shop the 14 million items on offer.
  • Over 100 brands, including Nike, Adidas, Apple, LOral, Este Lauder and Lanc´me, achieved RMB100 million in gross merchandise volume (GMV) only 111 minutes into the first sales period.
  • Beauty products “ always a popular category during the 11.11 festival “ generated more than RMB10 billion in GMV and exceeded 150% year-over-year sales growth in the first hour of the event. Este Lauders Tmall flagship store was the first to surpass RMB1 billion in sales during 11.11. 34 new cutting-edge brands in the beauty category also achieved more than RMB10 million in sales in a single day.
  • Over 1,800 new brands (brands that have been on Tmall for less than 3 years) surpassed their respective last year’s GMV on November 1. Among them, 94 brands have already achieved 1,000% YoY growth. The number of new products debuting on Alibabas B2C platform Tmall alone will exceed 2 million this year, twice the number of new products from last year, clearly illustrating how important the festival is for capturing consumer attention and driving engagement.
  • The first delivery of an item purchased during the shopping event was for mosquito repellent. The delivery occurred 11 minutes after midnight to a consumer in Chengdu, Sichuan Province, who placed the order via Ele.me, Alibabas on-demand delivery platform.
  • Nearly 200 luxury brands joined this years 11.11 festival; among them Montblanc, Piaget, IWC Schaffhausen are participating for the first time. Luxury brand Cartier hosted its first jewelry show on Taobao Live, unveiling more than 400 timepieces and jewelry items, including a necklace valued at RMB90 million (USD28.3 million). Their livestream attracted 770,000 viewers in just two hours.
  • Positive results from the 11.11 presale period show robust and continuously growing demand for imported goods. October 21, the first day of presales, Tmall Globals GMV increased more than 90% year on year.
  • Uncle Buds, one of Alibabas US Pitch Fest brand winners, is bringing its hemp and CBD products to Chinese consumers through their newly opened Tmall Global flagship store. Their brand ambassador Earvin Magic Johnson will join many other international brands and celebrities to do a livestreaming session on Tmall Global on November 7. Other Pitch Fest brands including C.O. Bigelow, Pipette and Lab to Beauty are also launching on Tmall Global in time for 11.11.

The results from the first 11.11 shopping window this year indicate a solid rebound of consumer spending in China, demonstrating the importance of the opportunity it presents for international brands and small businesses.

To help international audiences better understand consumer trends and the next wave of groundbreaking retail innovation, and to show how international brands are entering and succeeding in the Chinese market, Alibaba is hosting a live virtual event called Understanding 11.11: Alibabas Mega Shopping Festival.

The 45-minute live broadcast “ a first for the company “ will air at 10:30 a.m. ET (7:30 a.m. PT) on November 11. It is timed to coincide with the last 30 minutes of the 11.11 festival in China (11:30 p.m. November 11 to 12:00 a.m. November 12, China time) and the 15-minute period immediately following, when Alibaba will be sharing live results from the festival. The broadcast will feature:

  • Interviews with Alibaba Executive Vice Chairman Joseph Tsai and President Michael Evans.
  • Founders and CEOs of iconic global brands such as DVF, Fender and BISSELL talking about what it takes to succeed in the Chinese market.
  • American small businesses that participated in 11.11 for the first time this year and the lessons they learned along the way.
  • One of Chinas hottest livestreamers on how and why livestreaming, a powerful marketing and brand-building tool, has taken the e-commerce market by storm in China.
  • LIVE results from 11.11 and exclusive behind-the-scenes footage that shows how Alibaba pulls off the worlds largest shopping festival.

To RSVP and register to view the live broadcast program, please click here. For additional content, please follow Alibaba Groups official Twitter account or visit the 11.11 Media Resources page on Alibabas corporate news site, Alizila, which has more background, fact sheets and content related to this years 11.11 Global Shopping Festival.

About the 11.11 Global Shopping Festival

The 11.11 Global Shopping Festival began in 2009 with just 27 merchant participants. The event was designed to raise merchant and consumer awareness of the value of online shopping. More than 250,000 brands are participating in this years event. For the latest news and updates on the 2020 11.11 Global Shopping Festival, please visit www.alizila.com.

About Alibaba Group

Alibaba Groups mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba and that it will be a good company that lasts for 102 years.

Media Contacts

Brion Tingler

Alibaba Group

+1-9175281992

[email protected]

Candice Huang

Alibaba Group

+1-2027167446

[email protected]

News

Steelworkers Seal Deal with Tape Manufacturer

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The 135 members of United Steelworkers (USW) Local 6946 at Scapa Tapes North America Ltd. have ratified a new three-year collective agreement that includes jointly-developed job training and improvements to wages and benefits.

Ratification meetings held in small groups due to COVID-19 restrictions confirmed acceptance of an agreement that includes improvements to a number of benefits and an added 6th week of vacations for long-service employees. A new weekend shift premium will provide an additional $50 a month for the majority of employees, who work on 12-hour shifts. The agreement was reached with conciliation assistance.

Wage increases will total 5.25% over three years.

Scapa Tapes is an important industry in the Ottawa Region, said USW Ontario Director Marty Warren. Our members are committed to producing quality products and have made sacrifices over the last many months of uncertainty to keep this plant operating 24 hours a day, seven days a week. We are proud to represent them.

Scapa is a leading manufacturer of tape for industrial, construction and commercial use.

Marty Warren, USW Ontario/Atlantic Director, 416-243-8792

David Lipton, USW Staff Representative, 613-859-8403, [email protected]

Denis St. Pierre, USW Communications, 416-544-5990, 647-522-1630, [email protected]

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Graco Appoints Brett C. Carter to the Board of Directors

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Graco Inc. (NYSE:GGG) announced today that Brett C. Carter has been appointed as a member of the Companys Board of Directors, effective Feb. 11, 2021.

Mr. Carter serves as Executive Vice President and Chief Customer and Innovation Officer of Xcel Energy Inc., a major U.S. electric and natural gas delivery company. He assumed this position in May 2018. Prior to that, Mr. Carter served as Senior Vice President and Shared Services Executive of Bank of America from October 2015 to May 2018, and as Senior Vice President and Chief Operating Officer of Bank of America from March 2015 to October 2015. Before joining Bank of America, Mr. Carter held several leadership roles at Duke Energy Co. from 2005 to 2015, including most recently as Senior Vice President and Chief Distribution Officer from February 2013 to March 2015.

On behalf of our Board of Directors and Management team, I want to formally welcome Brett to Graco, said Lee R. Mitau, Gracos Chairman of the Board. Were looking forward to Brett bringing his substantial experience in operations, marketing, information technology, cyber and physical security, customer service and brand strategy to the Board. Bretts passion for developing strong customer relationships will be a great fit for Graco as we deliver on our promise of providing A+ service to every customer, every time.

Mr. Carter will serve on the Companys Audit Committee and its Management Organization and Compensation Committee.

ABOUT GRACO

Graco Inc. supplies technology and expertise for the management of fluids in both industrial and commercial applications. It designs, manufactures and markets systems and equipment to move, measure, control, dispense and spray fluid and powder materials. A recognized leader in its specialties, Minneapolis-based Graco serves customers around the world in the manufacturing, processing, construction and maintenance industries. For additional information about Graco Inc., please visit us at www.graco.com.

Investors: Mark Sheahan, 612-623-6656

Media: Charlotte Boyd, 612-623-6153

[email protected]

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Biochip Market | Increased Popularity of Personalized Medicine to Boost the Market Growth | Technavio

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The global biochip market size is poised to grow by USD 19.71 billion during 2020-2024, progressing at a CAGR of 22% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

Personalized medicines growing popularity and demand is expected to drive the growth of the Biochip market. The medicines are personalized as per the patients needs which suits the individual characteristics of the person is a multi-faceted approach. This improves the ability to diagnose and effectively treat the disease as this technique facilitates early diagnosis. These biochips play an important part in the development of these medicines, as it improves the ability to diagnose and effectively treat the disease. It is also expected that during the forecast period the growing incidences of genetic and terminal diseases will influence the demand for personalized medicine for targeted drug development. This will increase the demand for biochips which will result in the growth of this industry.

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Report Highlights:

  • The major biochip market growth came from the microarray segment in 2019. The global use of microarray for technological as well as medical purposes is one of the key reasons for its growth.
  • North America was the largest Biochip market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increasing presence of the pharmaceutical companies in the US.
  • The global biochip market is fragmented. Agilent Technologies Inc., BioChain Institute Inc., Bio-Rad Laboratories Inc., Fluidigm Corp., General Electric Co., Illumina Inc., PerkinElmer Inc., Prescient Medicine Holdings Inc., RayBiotech Life, and Thermo Fisher Scientific Inc. are some of the major market participants. To help clients improve their market position, this biochip market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the global biochip market 2020-2024 is expected to have negative impact. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Rising Use of Biochips in Safety Detection of Agriculture Products will be a Key Market Trend

The rising use of biochip technology in the agriculture industry is turning out to be one of the major trends in the biochip industry. Biochip helps in the detection of pathogenic microorganisms, biological toxins, pesticide residues, and antibiotics. Microchips help in providing early warning to agricultural products’ monitoring with a rapid response system and, thus, enhance the agricultural products’ safety detection system. Therefore, significantly helping the agriculture industry from the loss it faces every year.

Technavios sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Biochip Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist biochip market growth during the next five years
  • Estimation of the biochip market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the biochip market
  • Analysis of the markets competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of biochip market vendors

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five forces summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Technology

  • Market segments
  • Comparison by Technology
  • Microarrays – Market size and forecast 2019-2024
  • Microfluidics – Market size and forecast 2019-2024
  • Market opportunity by Technology

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers “ Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Agilent Technologies Inc.
  • BioChain Institute Inc.
  • Bio-Rad Laboratories Inc.
  • Fluidigm Corp.
  • General Electric Co.
  • Illumina Inc.
  • PerkinElmer Inc.
  • Prescient Medicine Holdings Inc.
  • RayBiotech Life
  • Thermo Fisher Scientific Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavios report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavios comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: [email protected]

Website: www.technavio.com/

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Editorial & Advertiser disclosureOur website provides you with information, news, press releases, Opinion and advertorials on various financial products and services. This is not to be considered as financial advice and should be considered only for information purposes. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third party websites, affiliate sales networks, and may link to our advertising partners websites. Though we are tied up with various advertising and affiliate networks, this does not affect our analysis or opinion. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you, or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish sponsored articles or links, you may consider all articles or links hosted on our site as a partner endorsed link.
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