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Thursday, October 5, 2023

Alibaba Launches Largest Ever 11.11 Global Shopping Festival

Alibaba Group has launched the month-long celebration of its 11.11 Global Shopping Festival in Beijing, saying this year’s 10th-anniversary event is said to be the largest ever in scale and reach. Years after Alibaba introduced its “new retail” strategy, the e-commerce giant said this year’s 11.11 will continue to demonstrate the convergence of online and offline retail through technology. 200,000 mom-and-pop stores powered by Alibaba’s Ling Shou Tong will provide online sales promotions 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.

“This year marks the 10th anniversary of 11.11. On the back of China’s explosive digital transformation, the Festival’s astounding growth over the past decade has powered the steady rise in 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.

“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,” said Zhang.



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