Asia’s Alibaba is about to make US$20b in one day

Fiji Sun - - World News - Jy­otip@fi­jisun.com.fj

Bei­jing: China’s on­line re­tail be­he­moth Alibaba is gear­ing up for a mas­sive rev­enue for the up­com­ing “Sin­gles’ Day,” China’s of­fi­cial on­line shop­ping hol­i­day sched­uled for Fri­day. Ac­cord­ing to mar­ket ex­perts, Alibaba’s on­line sales may reach a record-break­ing $US20 bil­lion (F$40b) this time around af­ter last year’s im­pres­sive num­bers,

re­ported. Alibaba broke its own record last year by a sin­gle-day sales record of $14.3 bil­lion (F$29.2b) dur­ing the 24-hour pe­riod (gen­er­at­ing as much as $9.3 bil­lion (F$19b) in the first 12 hours of the event). The num­bers for 2015 were up 60 per cent from the fig­ures ac­cu­mu­lated in 2014. The mag­ni­tude of the sales re­quired the co­or­di­na­tion of 1.7 mil­lion work­ers us­ing 400,000 ve­hi­cles, 5000 ware­houses and 200 air­planes to de­liver the or­dered goods to the on­line buy­ers. This year, Alibaba even promised to de­liver goods in as lit­tle as two hours. Alibaba is pre­par­ing for an even big­ger spec­ta­cle, turn­ing China’s Sin­gles’ Day into an in­ter­na­tional event with planned con­certs from Katy Perry and OneRepub­lic and an ap­pear­ance by Kobe Bryant. New ven­dors are also ex­pected to par­tic­i­pate.

For the first time, prod­ucts from Ap­ple, Guer­lain, Maserati and Tar­get will be avail­able on Alibaba’s on­line store Tmall, join­ing Costco, Macy’s, Star­bucks and Zara. Re­search firm Fung Global Re­tail & Tech­nol­ogy is look­ing at an­other 40 per cent in­crease this year to Alibaba’s profit, with an ex­pected $20 bil­lion in sales. The New York firm cites Alibaba’s in­no­va­tive and ag­gres­sive mar­ket­ing strate­gies among the keys to its im­pend­ing suc­cess. Sin­gles’ Day, has been pro­moted by Jack Ma’s Alibaba as a 24-hour shop­ping day since 2009, on which thou­sands of in­ter­na­tional and lo­cal brands of­fer huge dis­counts for its on­line stores.Nextshark.com

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