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WITH DISCOUNTS GALORE AND TAYLOR SWIFT, ALIBABA EYES ANOTHER RECORD SINGLES' DAY

Опубликовано : 20-11-2019, 16:11 | Категория: Business news   
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SHANGHAI (Reuters) - Alibaba Group (BABA.N) on Monday will launch its annual 24-hour extravaganza with shopping with lots of discounts and lots of discounts, as well as a performance by American pop star Taylor Swift to exceed all expectations. another sale entry.
This year's November 11 events will begin when a $ 486 billion Chinese retail giant goes through a tipping point - September resignation of its vibrant co-founder Jack Ma as chairman and hopes to raise up to $ 15 billion by selling shares in Hong Kong. Kong is already this month.


Like Black Friday and Cyber ​​Monday in the United States, Singles' Day, the shopping festival originally held by Alibaba chairman and CEO Daniel Zhang in 2009, has since quickly become the world's largest online sales event.


Last year, Alibaba saw sales of its platforms total $ 30 billion, which significantly reduced Cyber ​​Monday's online sales in the US by $ 7.9 billion. Nevertheless, sales growth of 27% was the lowest in the 10-year history of the event, which stimulated the search for fresh ideas.


"This year will be the 11th festival of 11.11, in which more than 200,000 brands will participate, one million new products will be presented and more than 500 million users are expected to participate - about 100 million more than last year," the statement said Alibaba.


Taylor Swift, whose latest album, Lover, broke records in China, will perform as a challah at this year's opening with local celebrities such as Jackson Yee. Swift also performed at a Prime Day concert for rival Amazon.com (AMZN.O) earlier this year.


Last year, Alibaba celebrated the singles day of US singer Mariah Carey and musician Farrell Williams. Livestreamers will also play a prominent role in product promotion this year, as Alibaba is increasingly turning to online video influences to increase interest in its application.


He collaborated with Kuaishou and Douyin, two popular Chinese video apps, to help him broadcast product promotions, and even got confused by American celebrity entrepreneur Kim Kardashian, who launched the Tmall stream to promote her KKW line of cosmetic products, in advance of the show.


For a graphic representation of Alibaba's Singles Day, see tmsnrt.rs/2Pl7TT6.


INTENSIVE COMPETITION
His vigorous marketing campaign emphasizes increased competition with smaller competitors such as Pinduoduo PDD.N, who are ahead of Alibaba in second and third tier cities with big discounts and group deals.


Alibaba is trying to expand its customer base beyond its main urban Tier 1 and Tier 2 buyers into less developed areas to combat the slowdown in retail sales, describing this as a key strategy for the company this year.


On the same day, Pinduoduo will hold its own "Singles Day” events.


An e-commerce surge has signaled its intentions to destroy Alibaba and the stronghold of JD.com (JD.O) for wealthy Chinese buyers, stating that half of the app’s users are now from first and second level cities.


Alibaba is also facing issues related to law enforcement and economic slowdowns affected by trade tensions in the US and China.


In anticipation of the November 11 event, China warned Alibaba and JD.com (JD.O) of ending practices that could be considered exclusive, state media reported earlier this month.





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