This year, Alibaba Group doubled its Singles’ Day Sale and performed incredible. It ran 11.11 sale – the biggest global shopping festival two times in one year. The first of its two periods was from Nov 01 to Nov 03, which dramatically winded up last midnight encouraging shoppers to spent $1.49bn in the first 111 minutes of 1.11.
Basically, this strategy by Alibaba was an opportunity for retailers to expand their shopping window after COVID-19. The prior details were shared by Jiang Fan, the president of Alibaba’s Tmall and Taobao, in a statement.
The first delivery of this period took place at exactly 11 minutes before midnight. Nevertheless, this spending was slower from the brand’s previous year’s range reaching $1bn in the very first minutes of 11.11 sales. Also, Alibaba shipped $38.4bn in GMV – gross merchandise value on Single’s Day 2019.
While China was the first to be victimised by Coronavirus, the country’s economy has a remarkable recovery from the pandemic. The main credit goes to government of exports. Consumer spending however, is still waiting for the comeback.
In the past, retailers kept criticising Alibaba for playing the massive sales event and accused the iconic ecommerce king of pressurising them to contribute. On the 11.11 sale day, discounts most likely start from 50% which in return upsets some sellers for the loss they face.
On the other hand, for the wary shopaholics, the second Alibaba’s biggest shopping festival is going to be yet another opportunity to save big. The brand is already counting days for the second 11.11 sale ready to commence from Nov 11 – Nov 13!
Stay tuned to find more about Alibaba’s Mega Shopping Festival!