News Worms
News Worms


Brands cash in on Alibaba's big day

Brands cash in on Alibaba's big day

Zhang Jingjing, a 30-year-old clerk for an engineering company, prepared for Singles Day by building a shopping list on Alibaba's retail platform Tmall and watching for when prices dip. Sales during this day single handedly take over sales in the United States during Black Friday and Cyber Monday and as Ben Cavender, principal of the China Market Research Group, based in Shanghai states, "in terms of scale it just dwarfs any other event out there". In a sign of the times, 90% of the GMV from Singles Day was transacted on mobile devices.

And the sales story this year spilled into the tens of billions of dollars.

Alibaba's biggest rival, e-Commerce giant JD.com, saw sales reach $19.1 billion in the 11 days up to and including Singles Day, an increase of 50% from a year ago.

Chinese e-commerce giant Alibaba, who created the event in 2009, took in 66 percent of the total with sales of US$25.3bn on November 11.

Singles' Day has been expanding over the years and at the moment it is emerging to be one of the world's biggest shopping events.

On Nov. 12, JD.com announced that the value of all goods and services transacted on its shopping sites reached $19.1 billion during the Singles Day Shopping Festival, which ran from Nov. 1 to Nov. 11.

Alibaba has been celebrating the occasion since 2009 by giving unbelievable and steep discounts to a wide variety of products sold on its platform, Tmall.

Everything about Singles Day is noteworthy, from the sales volume to the number of transactions that get processed on mobile payment platforms. "The Singles' Day Gala combined entertainment, shopping and interactive involvement and that is why it is such a unique success".

But like Amazon in the U.S., Alibaba has a strategy to integrate online shopping with brick-and-mortar stores, which still make up 85% of total retail sales, according to the company. According to JD.com, this year's sales included eleven days of transactions. This year, more than 140,000 brands and merchants were on board. Ma's company spent billions buying into grocers, shopping malls and even department stores years before Amazon announced its $13.7 billion acquisition of Whole Foods Market Inc. Alibaba has said Cainiao expects 3 million people to handle packages during the 24-hour-period.

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