Alibaba – launch of 11/11 Global Shopping Festival

As the West gears up for Thanksgiving’s Black Friday and Cyber Monday, so China is getting ready for its 11/11 Global Shopping Festival. Online giant Alibaba has announced the launch of its part in the Global Shopping Festival.

Speaking at press conference in Hon Kong, Daniel Zhang, Chief Executive Officer of Alibaba Group, said: “11.11 Shopping Festival has become the global retail benchmark over the past seven years, and we have raised the bar again this year to redefine the retail experience for consumers together with our merchants from around the world.”

The online giant has said that it will be “pioneering a variety of innovative ways” to help almost 100,000 merchants on its marketplace to sell their goods to the “hundreds of millions of Chinese consumers shopping on Alibaba’s marketplaces throughout the festival”.

In a statement released today, Alibaba emphasised that this year’s 11/11 will take the Group “another step forward in its globalization strategy with its ‘Buy Globally, Sell Globally’ initiative.”

Alibaba explained that “Buy Globally” is the gateway to China for international brands, while the “Sell Globally” refers to a new pilot programme to help global merchants sell beyond China.

“The company is in its early phases of expanding its infrastructure, including logistics and payments, in order to allow consumers overseas to purchase international products through Tmall,” said Alibaba. “Hong Kong and Taiwan are the first markets outside mainland China where this will be available.”

The company is up against competition for clicks, with other giants such as JD.com vying for market share.
 
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