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Alibaba 11.11 global shopping festival now in 2 phases

Thursday - October 29, 2020 4:33 pm , Category : BUSINESS
Shanghai, Oct 29 (IANS) Alibaba Group will hold its 11.11 global shopping festival with new innovations and features to meet rapidly changing consumer trends next month and this time, the festival expands the concept from 'single' to 'double'.
A new sales window will be added from November 1 to 3, ahead of the main event on November 11, with the aim of providing merchants, specifically new brands and small businesses, the opportunity to showcase their products and tell their brand stories amid the pandemic.
The annual event will continue to support the merchants with new innovations, valuable consumer insights and trusted technology, fulfilling the mission of 11.11 when it was created 12 years ago, Alibaba said in a statement.
"Through our expansion from 'single' to 'double,' 11.11 will be offering more opportunities for merchants both online and offline to engage with consumers as well as provide a better consumer experience overall," said Jiang Fan, President of Taobao and Tmall.
Alibaba Group's annual 11.11 Global Shopping Festival, also known as Singles' Day, amassed a record-high total gross merchandise volume (GMV) of 268.4 billion yuan ($38.4 billion) last year.
This year, more than 2 million new products will be introduced, which is double the amount compared to last year.
Offline small- and micro-merchants across China, such as street stalls and neighborhood grocery stores, will be able to participate in the excitement of 11.11 by connecting with consumers through Alipay's digital lifestyle platform.
This year's festival will feature 14 million value-for-money products from more than 250,000 brands available on Tmall.
Also, to cater for the needs of customers in lower-tier cities, Taobao Deals' "RMB1 Sales" campaign will enable consumers to purchase goods at huge discounts with free shipping.
The 11.11 Global Shopping Festival began in 2009 with participation from just 27 merchants.
More than 250,000 brands are participating in this year's event.

--IANS na/