Over the last six years, Alibaba Group took a little-known Chinese folk holiday called Singles Day and turned it into a multibillion-dollar online celebration of Chinese consumerism. Last year, Alibaba’s 11.11 Shopping Festival, which takes place every year on Nov. 11, generated $9.3 billion in GMV in just 24 hours, dwarfing Cyber Monday in the U.S.
How do you make a Chinese shopathon that is already the largest online sale in the world even bigger? Invite the rest of the world to join, said Alibaba President Michael Evans.
“Over the next decade, we plan to connect millions of businesses and serve billions of consumers around the world,” Evans said today at a kickoff event for the 2015 11.11 Global Shopping Festival, which is less than a month away. “How are we going to do that? We will leverage our existing online platforms to enable the world to sell to China, and to help China to sell to the world, ultimately bringing the world’s businesses and consumers together, making it easy to do business anywhere.”
countdown, 11.11 global shopping festival, jack ma, china, e-commerce
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