Alibaba turned 11/11 into $20 billion global shopping festival

Nowadays Chinese industry is growing rapidly. With 13 billion people, China has the biggest market in the world.

If you have heard of Taobao and Tmall, they are two of the main sites under Alibaba Group that sell online products. Alibaba Group, established in 1999, by some measures, is considered as the world’s biggest ecommerce store. It has 80 percent of the Chinese online shopping market which it has grown its online store since 2003. Alibaba set up its main company at Hong Zhoug and also set up the branch companies in diverse countries for established cross culture community. It has the branch companies in Hong Kong, Taiwan, Japan, India, London, and the United States in Silicon Valley.

After Alibaba Group successfully won the public’s recognition, it started to expand its service to online dating app, online television and to so many other services. Last year, the founder of Alibaba Group, Jack Ma, invested the company in going global and digital. During the Chinese Singles Day Nov. 11, Alibaba Group sold $17 to $20 billion worth of goods in 24 hours. It turned Chinese singles day into global shopping festival. Chinese Singles Day is considers as the Chinese version of Black Friday. Many retailer stores do promotion and sales during this special holiday. Jack Ma said, his vision is to let Chinese feel proud of their company. He wants to let the world know how great a Chinese company can do. Ma starts to pursue his goal because of his passion. He wants to serve people and provide what the public needs.

It is the first time, when Alibaba introduced global brand engagement to its online store, Tmall, including Apple, Maserati, Target, Costco, Macy’s, Starbucks and Zara. With expected 600 million Chinese consumers and 10,000 merchants, the sales from Nov. 11 each year increased 40 percent year-to-year surge. Although the amount of buying and selling is huge, Alibaba Group didn’t make any mistake during the holiday. With huge amount of Internet traffic, the website still runs smoothly without making any error.

The ecommerce is “[t]he most critical opportunity for brands to connect and engage with Chinese consumers, to build awareness and relationships for the long term” says Denise Sabet, manager of Labbrand in New York, a Shanghai-based brand positioning and naming agency.

Alibaba has made its app, online shopping store and online television successfully became people’s topic of conversation. It strongly used media to boost both the world and Chinese economy and bring its audience huge benefit by providing a platform for people to buy and sell. It brings huge profit not only for itself but also for anyone who runs small businesses online. Alibaba group has successfully connects China into global business trends by using media flexibly.

 

 

 

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