Saturday , April 17 2021

Alibaba expands Singles & # 39; s Day for hit record sales

(Bloomberg) -Alibaba Group Holding doo looks beyond borders to turn its annual celebration of shopping for individual holidays into a global phenomenon.

This Sunday, the Chinese Internet giant includes sales from Lazare, the online shopping mall that controls it. The largest retailer in Southeast Asia becomes a key part of Alibaba's fuel-saving plan, and at the top of the company's efforts to move to shopping malls, grocery stores and food delivery.

The challenge for the online empire of Jack Maiaia is to break another record of sales transactions after decades of overcoming the previous results. With the trade war, the cooling economy and the growing competition from smaller platforms such as Inc. (Number 5 in Internet Merchant 2018 Online Marketplace) and Pinduoduo Inc., Alibaba wants to add new growth engines. The November 11th retail sale dedicated to an unauthorized nation has become an important belfry not only for the company, but also for the world economy no. Second

"An individual day has now become a platform for Alibaba to present its capabilities on all of its platforms," ​​said Daniel Zhang, Executive Director, at a October conference in Beijing. He took over after he came out next year as the Executive Chairman.

Zhang came up with the idea of ​​turning an individual day into a shopfest ten years ago. Now that this year's one-day bazaar will be Ma as president, Zhang will have to prove he can inherit. "We think a billion packages will become a daily event in the future," he said.

More than half a billion people are expected to visit Alibaba's website in search of Dyson Hair Loss, Infant and Gucci handbags. Alibaba has been able to announce growth for almost a decade, including 39% last year's sales jump to 168 billion yuan ($ 24.2 billion).

However, this year there is some uncertainty about the slowdown in the economy, property deflation and US trade tensions that could affect China's consumption. The slower economy and the growth of household debt have, to a certain extent, disrupted consumer confidence in China.

Retail sales growth slowed to 24%, in the second quarter by 12 percentage points, according to the Central Bureau of Statistics. Policy makers have brought a number of changes, including a reduction in personal income tax and customs duties. This indicates a consumption that may take months to come; the oldest evidence could come from data during the Single Day.

Last week, Alibaba recorded quarterly profits and sales well above analysts' estimates, while downtrend predicted for the whole year by as much as 6 percent, while Ma warned that the economic conflict between the two largest world economies could last for 20 years.

In order to break the fuel, Alibaba spreads its playlists., the launcher that has taken control of this year, will provide delivery services to selected Starbucks stores in 11 cities in China. Rural Taobao will offer vouchers for goods over 800 counties, and Lazada will launch promotion in six Southeast Asian countries, including Indonesia, Malaysia and Thailand.

Although it has been three years since Ma said he wanted to make Singles Day as a global shopping event, this has not happened yet. International expansion will be a key part of Zhang's plan to keep record of sales. Last year, Russia, Hong Kong and the USA were the first three regions outside of China to buy goods during the annual event. Popular items purchased abroad include mobile phones, woolen coats, and knitted garments, according to the company.

At the same time, Alibab's efforts to push into the US are spraying. He declined his efforts to create a million jobs in the country, lost his top American merchant, and rejected plans for affiliate Alipay to get MoneyGram. US President Donald Trump said in October he plans to withdraw from the 192-nation deal that companies in China provide discounts on delivery charges for small packages sent to US consumers, making it harder to push the market.

South East Asia will give the clearest indication of Alibaba's ability to go internationally. With Lazad, headquartered in Singapore, is now fully under the wing, the region remains one of the relative bright spots of the company.

The deterioration of the Chinese advertising sector has also hurt Alibi. Much of the revenue comes from traders who spend money through the e-commerce entertainment platform to attract buyers. This item, which falls under the category of "customer income", increased by 26% in the last quarter, compared with 35% in the previous period.

"Macro slowdown has affected advertiser sales performance, and on online advertising budgets," said Ella Ji, China Renaissance analyst.

Alibaba owns and operates Taobao and Tmall, holding number 1 and number 2 on Internet Marketer 2018 Online Market.

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