 |
| source image: https://entrackr.com/2018/08/alibaba-plans-ties-corporates/ |
China's e-commerce giant Alibaba is optimistic that this year's Single’s Day discount party will break the record again.
Alibaba announced total transactions during the Global Shopping Festival, November 11, 2017 reaching US $ 25.4 billion, equivalent to Rp. 342 trillion.
"This year, Alibaba promised that Single 's Day will be the biggest," AdWeek was quoted as saying on Friday (9/11).
For this reason, Alibaba adds a new service that is ordering first (pre-order). At least, there are 500 thousand product items that can be ordered since last October 20. However, Alibaba also needs to be aware of stretches from competitors, such as JDCom.
Alibaba announced total transactions during the Global Shopping Festival, November 11, 2017 reaching US $ 25.4 billion, equivalent to Rp. 342 trillion.
"This year, Alibaba promised that Single 's Day will be the biggest," AdWeek was quoted as saying on Friday (9/11).
For this reason, Alibaba adds a new service that is ordering first (pre-order). At least, there are 500 thousand product items that can be ordered since last October 20. However, Alibaba also needs to be aware of stretches from competitors, such as JDCom.
Alibaba Group CEO Daniel Zhang estimated that an average of 1 billion packages were sent through his platform during a 11.11 discount party. Which, Alibaba processes 1.48 billion payment transactions during Single’s Day 2017, or up 41% compared to 2016.
More than half a billion people are projected to visit Alibaba's website to find Dyson hair dryers, Gucci bags, and baby needs. "We think of 1 billion packages (sent) on every Single 's Day going forward," Zang was quoted as saying by Bloomberg.
More than half a billion people are projected to visit Alibaba's website to find Dyson hair dryers, Gucci bags, and baby needs. "We think of 1 billion packages (sent) on every Single 's Day going forward," Zang was quoted as saying by Bloomberg.
Only, Alibaba is also faced with uncertainty in the world economy which is expected to affect people's purchasing power. In addition, China is experiencing a trade war with the United States (US). These conditions affect purchasing power and the level of consumer confidence to shop.
Statistics in China shows that online retail sales growth slowed from 24% in the first quarter to 12% in quarter II-2018. Then, the Chinese Government reduced the income tax rate (PPh) and other easing policies to increase people's purchasing power.
Statistics in China shows that online retail sales growth slowed from 24% in the first quarter to 12% in quarter II-2018. Then, the Chinese Government reduced the income tax rate (PPh) and other easing policies to increase people's purchasing power.
Despite, Alibaba's sales are still above analysts' estimates as of October 2018. However, Alibaba lowered its sales forecast this year by 6%. Because, Alibaba Founder Jack Ma felt the need to be aware of the effects of trade wars.
The Single’s Day discount party was started by Alibaba in 2009. At that time, Alibaba posted a transaction of US $ 7.8 million. Last year, the transaction had reached US $ 25.4 billion. "I never imagined that we really changed Single’s Day into a commercial day for the whole community," Zhang told CNBC.
The Single’s Day discount party was started by Alibaba in 2009. At that time, Alibaba posted a transaction of US $ 7.8 million. Last year, the transaction had reached US $ 25.4 billion. "I never imagined that we really changed Single’s Day into a commercial day for the whole community," Zhang told CNBC.
