Alibaba Group On Way to Glory – Makes $13 Million in Singles’ Day Sales
In an announcement made on November 11, Chinese multinational firm Alibaba Group said that its annual Single’s Day shopping revenue reached 91.2 billion yuan ($13 billion) within the first hour. This is 32 percent more than the haul of 2018, that stopped at 69 billion yuan.
Recognised as the world’s biggest online sales event, the Chairman and Chief Executive of Alibaba Group, Daniel Zhang, has been promoting Singles’ Day since 2009. The event, similar to Black Friday and Cyber Monday, is also known as “Double Eleven”, a name that originates from the calendar date 11/11 where the four ones are symbolic of being single.
The 2018 sales of Singles’ Day were worth $30 billion. Despite the 27 percent sales growth, the hike was the lowest revenue earned in the event in the last 10 years.
The Singles’ Day this year, saw performances by American pop star Taylor Swift and local celebrities like Jackson Yee. As per reports, the $486 billion Chinese retailer saw sales reaching the US$1 billion mark in the initial first minute and eight seconds itself. As said by Alibaba, “Singles’ Day was among the top trending topics on China’s Twitter-like Weibo platform on Monday morning, with users discussing what they spent on.”
This year, the firm has higher expectations, aiming for a participation from over 500 million users, which is 100 million more than 2018. In order to improve consumer and traveller experience in the coming five years, Alibaba Group announced partnership with AccorHotels, a French multinational hospitality company, focusing for a strategic collaboration to create a series of digital applications and loyalty programs.
Alibaba Group made the announcement at a special ceremony in Beijing during the 2019 China International Import Expo in Beijing. Many delegation companies came on a state visit to China, with French President Emmanuel Macron and Accor was one of them.
The planned collaboration between the two will help Chinese travellers to enjoy the world class offerings of Accor. With the help of Fliggy, the travel arm of Alibaba, consumers will be able to book hotels, access catering services, book entertainment and take advantage of other lifestyle services. Visitors can make payments via Alipay, a digital payment service operated by Alibaba affiliate Ant Financial.
Moreover, Accor has offered a certification program that prepares its hotels to welcome Chinese guests by imbibing Chinese-language, Chinese dishes on menus, Chinese speaking staff and every other thing to be modified as per the requirements of Chinese guests.
Sources claim that the upcoming collaboration between Alibaba Group and Accor will help in introducing the soon to be launched lifestyle loyalty programme by Accor, ALL – Accor Live Limitless.
There are speculations about Alibaba Group setting up a British retail team prepping up to gain on the high street. Sources claim that Alibaba Group has hired some executives at its London offices and is in search of more people.
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