Monday, June 17, 2024

Alibaba Group launches 11.11 Global Shopping Festival

Alibaba Group has launched its annual 11.11 Global Shopping Festival, focusing on developing loyalty and growth for brands and sustainable consumption. This year there are 17 million products available, and more than 290,000 brands participating.

“Thousands of Australian and New Zealand brands are participating in the event in its 14th year, and utilising the company’s new Mini stores, including EZZ Life Sciences, Blackmores, Swisse, Koala Eco and Maxi Block, and new to China brands Slendier and Schibello Coffee. The Festival presents one of the most powerful drivers of growth for Australian businesses, and local brands are expecting to capture new opportunities this year.”

“With Alibaba’s more than 1 billion consumers in China, the annual 11.11 Global Shopping Festival is a fantastic opportunity for Australian businesses to build their awareness and sales in the China market and to innovate with new products and marketing ideas. We continue to provide our merchants with innovative technologies and enriching tools to drive brand loyalty and business growth,” says Pier Smulders, General Manager, Australia and New Zealand at Alibaba Group.

“Now that 11.11 is in its 14th year, it is crucial for us to focus on building values beyond discounted deals. Alongside supporting our merchants to cultivate high-value customers, we are also building a greener 11.11 community and helping brands and consumers make more sustainable choices,” Mr Smulders said.

Alibaba’s ecosystem-wide premium loyalty membership program 88VIP has over 25 million members with annual average spending of more than RMB57,000, which reflects the high-quality consumer base with strong purchasing intent on its platforms. “This year, Alibaba is equipping merchants with tools and solutions to grow their brand loyalty membership programs and unveil new products, among other initiatives, to help them succeed during and beyond 11.11. To date, more than 40 brands on Tmall have loyalty membership programs that surpassed ten million members and 600 brands have loyalty membership programs with over one million members.”

Promising performances from the First Check-out Window

The Festival this year consists of two check-out windows. The first window began in the evening of October 31 and ended on November 3, while the second window started yesterday at 8pm and will end at midnight today (all China time). “In the first hour of the first check-out window, 102 brands recorded more than RMB100 million in gross merchandise value (GMV) on Alibaba platforms. More than 40% were international brands.”

Livestreaming continues to be an effective channel for consumer engagement. “In the first hour of the first check-out window, the number of views recorded by Taobao Live increased by 600% compared with the first hour of the first purchasing period last year. Users on the livestreaming e-commerce platform can watch videos and buy items instantly with a product display feature at the bottom of the screen.”

There are early successes on brands from Tmall Global. “During the first sales window, 750 international brands on Tmall Global achieved more than 100% in GMV growth compared with the first sales window last year. Among international brands on Tmall Global that are new to the China market, 300 brands surpassed RMB1 million in GMV and 20 brands surpassed RMB10 million in GMV. Tmall Global is the leading cross-border platform that allows brands and retailers to access Chinese consumers without the need for a physical presence in China.”

A greener 11.11 community

This year sees more initiatives aimed at building a greener 11.11 community. “In accordance with newly released guidelines for low-carbon products by Alibaba Group, at this year’s 11.11, Tmall has ramped up efforts to label low-carbon products covering extended shopping categories such as apparel, food and cosmetics apart from energy-efficient electronic goods to drive sustainable consumption.

“Tmall together with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, have leveraged the cloud unit’s carbon management platform Energy Expert to provide online carbon footprint modelling, calculating and certification for the brands participating in our green initiatives to identify low-carbon products and conduct informed sustainability practices.”

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