This year’s 11.11 (11 November) global shopping festival on Alibaba is set to be a ringer. Over 100 international brands and retailers, countries and trade associations are lined up to participate in the event. Central to the podium at yesterday’s launch were Michael Evans (president), Daniel Zhang (chief executive officer), and Jack Ma (executive chairperson). He once again showed off his enthusiasm about the annual festival when he remarked:
“There are currently 300 million middle class in China, and that number will rise to 500 million in 10 to 15 years. This will be an opportunity for every nation. China’s consumption power will rise quickly, and that will not only drive China’s economy but also the world’s economy.” (In numerology, the number 11/11 represents a doorway, and a crack between worlds with the potential of linking two equal yet different spirals of energy.
What’s Behind the Global Shopping Festival for Alibaba
Jack Ma is determined to command the premier global platform for brands and retailers all around the world. He wants to be the medium for them to engage with hundreds of millions of China’s consumers. His intention is to do business anywhere, and his stable of brands to win the race comprises:
- Taobao Marketplace (online shopping)
- Tmall.com (platform for brands and retailers)
- Juhuasuan (online group buying)
- Alitrip (online travel booking)
- AliExpress (global online marketplace)
- Alibaba.com (small business wholesale)
- 1688.com (online wholesale marketplace)
- AliCloud (cloud computing services)
- What the Alibaba Event Will Celebrate
The Alibaba Group is already the world’s largest online / mobile shopping experience, as measured by gross merchandise value equated to turnover paid across. Since 1999 it has used its technology edge to help worldwide business leverage profits off Chinese consumers avidly exploring the freedom of the global shopping experience,
Highlights of the 2014 11/11 Alibaba Festival
The 2014 event tally was over US$9.3 billion settled through China’s leading mobile and online payments platform Alipay. There, over 27,000 merchants promoted 42,000 brands (including trend leaders ASOS, Costco, Desigual, Levi’s, Nike, Muji, Proctor & Gamble, and The North Face).