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Archival photo of the Alibaba group headquarters complex in Hangzhou, Zhejiang Province, East China. (AP)
BEIJING – Alibaba Group Holding Limited (NYSE: BABA) officially launched the 11.11 Global Shopping Festival 2018 in the Chinese capital, promising that this year's mega-event will be the largest in terms of scale and scope.
Alibaba ecosystem companies will jointly provide hundreds of millions of consumers with a rewarding experience that will help them search for high quality products, entertainment and fast, reliable services. The festival will also demonstrate the enthusiasm of consumers and brands who adhere to Alibaba's New Retail strategy – the convergence of online and offline retail through technology.
"This year marks the 10th anniversary of 11.11. Faced with China's explosive digital transformation, the spectacular growth of the Festival over the last decade has fueled the steady growth in quality consumption sought by Chinese buyers. The evolution also shows the development of Alibaba's ecosystem over time, extending well beyond e-commerce, "said Daniel Zhang, CEO of Alibaba Group.
Zhang designed 11.11 as a concept a decade ago, transforming the Chinese Calendar's "Singles Day" into the world's largest annual shopping event. The first 11.11 in 2009 reported a gross value of goods of 7.8 million US dollars. The total GMV generated in 2017 was USD 25.3 billion. Over the past decade, the number of Internet users in China has grown to 802 million and 98% of them are mobile 1. Alibaba has captured the hearts and minds of these Chinese consumers and intends to continue to show the way innovation in the retail trade.
"In the last two years, we've been the first to use the new retail concept to accelerate the digital transformation of offline. We are excited by the impressive results we have achieved so far and will continue to drive innovations for merchants and customers over the next few decades. Our goal is to become both the leading brand trading partner and the first shopping destination for consumers, "added Zhang.
This year, 500,000 items will be available for pre-order on Tmall from October 20th. Customers will enjoy additional promotional coupons on Mobile Taobao and Mobile Tmall. Specifically, the Global Shopping Festival 2018 11.11 will feature the following features made possible by the 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 year's celebration. 200,000 smart stores in China, in the garment, fast-moving consumer goods, beauty products, automotive and interior design sectors, will help increase traffic to destinations to buy online and offline. Tmall Global provides on its platform 3,700 categories of imported products from 75 countries and regions.
- International Consumers
Tmall World, AliExpress and Lazada will present the event to hundreds of millions of users around the world, making 11.11 a truly global event. Lazada will host its first 11.11 commercial festival in six countries: Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam, thus offering a more engaged consumer experience and the largest discounts in the world. year of the LazMall and Lazada markets.
- Participation of local services
Ele.me's on-demand platform will provide delivery services to select Starbucks stores in 11 Chinese cities, including full coverage in Beijing and Shanghai. In addition, Koubei's 150,000 business partners will offer half-price discounts on food services, beauty and hairdressing salons, and karaoke bars.
- New opportunities for small traders
Alibaba's 200,000 family-owned Ling Shou Tong family stores (which translates to "retail-integrated") will offer online sales promotions, as well as red-packs based on augmented reality offering discounts in 3 000 "Tmall Corner stores". Rural Taobao also brings coupons to its services in 800 counties in 29 provinces of China.
- Dining room and supermarket
The Hema supermarket will designate the 11.11 stores with several promotions. RT-Mart will complete the makeover of its nearly 400 stores, giving them full New Retail capabilities.
- Starry Entertainment
Tmall Collection's "See Now, Buy Now" fashion show will be broadcast live on ten platforms, including Taobao, Youku, Weibo and Toutiao, on October 20, starting at 6 pm in China. This will allow millions of customers to buy their favorite items on the spot and vote for their favorite looks to create a trend report. In addition, the countdown gala will be held on November 10 in the Mercedes Benz Arena Shanghai, with famous stars.
About 11.11 Global Shopping Festival
The 11.11 shopping festival started in 2009 with the participation of only 27 merchants and allowed merchants and consumers to realize the value of online shopping. Last year, nearly 140,000 brands and merchants participated in the event. Consumers spent 168.2 billion RMB (25.3 billion USD) over the 24-hour period. To learn more about the history and facts of last year's festival, as well as the latest news and updates about the Global Shopping Festival 2018 11.11, please visit Alizila: http://www.alizila.com
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