Dou­ble Hap­pi­ness for Tmall

NewsChina - - NEWS BRIEF -

Tmall, China's big­gest B2C on­line shop­ping plat­form un­der Alibaba, saw trans­ac­tion val­ues of 168.2 bil­lion yuan (US$25.9B) on Novem­ber 11, Chi­nese Sin­gle's Day, now known as the Dou­ble 11 Shop­ping Fes­ti­val.

The sales vol­ume, ac­cord­ing to Alibaba CEO Zhang Yong, was 39 per­cent higher than that of the last Shop­ping Fes­ti­val. Zhang at­trib­uted the growth to what he called “the big so­cial col­lab­o­ra­tion.” Ac­cord­ing to Zhang, more than 200 coun­tries and re­gions par­tic­i­pated in the 2017 event, with the sales vol­ume of 167 ven­dors ex­ceed­ing 100 mil­lion yuan (US$15.4M). Seven­teen on­line stores ex­ceeded a sales vol­ume of more than 500 mil­lion yuan (US$76.9M) and six ex­ceeded one bil­lion yuan (US$153.8M). For­eign brands con­tributed to around 40 per­cent of the to­tal vol­ume.

The an­nual sales ex­trav­a­ganza pro­vided a good chance for Alibaba to re­al­ize its “new re­tail­ing” strat­egy, which aims to bet­ter con­nect off­line and on­line shops. Be­fore the Shop­ping Fes­ti­val, Alibaba re­port­edly helped over 600 re­tail­ers up­grade their tech­nol­ogy to be­come part of Alibaba's ware­house and lo­gis­tics cen­ter. Alibaba has also re­built around 100,000 re­tail­ers into smart shops which en­abled the users to track down outof-stock com­modi­ties from other chain stores. Zhang claimed that Alibaba will con­tinue to launch sales pro­mo­tions in ever more cre­ative ways.

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