Alibaba Hits record in Singles’ Day Festival

Estimated read time 1 min read

Alibaba has 1 million brands and merchants involved in its marketplace promotions for the 11.11 festival, which runs from October 24 to November 11. Content creation is in the spotlight, with investment in short video campaigns jumping over fourfold year-over-year. Merchants registering new stores on Tmall, Alibaba’s business-to-consumer marketplace, in the three months ending September more than doubled year-over-year.

The 19-day campaign will feature AI-powered chatbots, such as Taobao Wenwen, which will answer queries and provide detailed product recommendations in various formats. The promotion is expected to attract 1 billion consumers, with over 80 million products on offer at their lowest prices for the year.

Alibaba’s business-to-consumer marketplace Tmall is offering discounts of RMB50 off every RMB300 spent, while Taobao will offer a 15% discount on purchases. The AI chatbot will also help consumers narrow searches and calculate the best prices. Livestreaming channel Taobao Live is distributing RMB1 billion worth of coupons between October 12 and 23. Alibaba is also disbursing over RMB3 billion in subsidies to merchants and Taobao customers this year.

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E.F Team

Our team at Eastern Finance is made up of young and knowledgeable professionals who are here to provide you with business news from an eastern perspective.

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