Alibaba Reopens Sesame
Fresh from the largest 24-hour sales event in the history of the world — Singles’ Day, on November 11th — Alibaba is already setting up for another major début, before the US even has a chance to celebrate Black Friday.
Singles’ Day (光棍节) generated US$38.4 billion in Gross Merchandise Value this year – a 26% increase over last year – roughly $10 billion more than all sales generated between Thanksgiving and Cyber Monday combined.
This year’s Singles’ Day featured 200,000 participating brands, one million new product launches and 1.3 billion delivery orders.
Many international brands participated in the bonanza, too — the top countries selling to Chinese 11/11 consumers through cross-border platforms included: Japan, United States, South Korea, Australia, and Germany.
And just two weeks after this accomplishment, Alibaba is on track to post the biggest worldwide share offering of 2019 with its US$13 billion Hong Kong stock listing on Tuesday, November 26th. This secondary share offering is expected to surpass Uber’s $8.1 billion IPO in May.
Alibaba’s continued success and growth is great news for brands that need to engage Chinese consumers.
Global brands already leverage Alibaba’s platforms in a number of areas, including:
- China-based e-commerce
- Cross Border E-Commerce
- Smart Retail
- Big Data
- Mobile payment (Both inside and outside China)
- Travel Booking (Fliggy)
Alibaba continues to innovate and expand its services for consumers and brands, and the upcoming Hong Kong listing only provides more dry powder to fuel growth.
Brands cannot afford to overlook Alibaba’s ever-expanding service offering. This powerful platform provides fuel for the next generation of global Chinese consumer engagement strategies.
Interested in discussing your Alibaba strategy? Contact CLA to schedule a call.
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Art Fair Provides Ideal Platform to Nurture Nation’s Young Talent
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