Summary: Alibaba has generated a huge $17.8 billion(RMB 120.7 billion) in sales during China’s Singles Day, smashing its own record by 32%.
11.11 has become a signal
festival on the Chinese and even the global retail calendar. Millions of
shoppers press on “buy now” buttons on their cellphone and PCs for 24 hours, to
get a lower price of needed goods.
Following is 3
unique phenomenon as a glimpse of tomorrow’s retail.
global shopping
11.11 is not only a purely Chinese affair, but also a global
shopping festival. According to Alibaba, 235 countries and regions completed
cross-border transactions during the festival, with thousands of international
brands participating. Adidas, Apple, Nike, Pampers, Phillips, Siemens and
Uniqlo were all among the most popular in their respective product categories.
After 90’s become main source of consumption
“The young
generation born after 1990 is becoming the main source of consumption,” Alibaba
CEO Daniel Zhang said. “They have a vastly different lifestyle and consumption
pattern.”
Logistic Services like bullet trains help delivering
This year, 170 high-speed trains
will be used to help e-commerce platforms deliver goods between Nov 11 and 20, stopping
at 505 cities, to answer the growing demand for logistics services.
Over 20 billion packages were
delivered by all logistics channels last year, and Alibaba's research
department predicts the number will reach 100 billion in the coming five to eight
years.
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International buyers are granted with the credit line within 90-120 days payment terms after GTR assessment and place orders towards intended suppliers with the credit line. So, international buyers could improve their purchasing capabilities, promoting the usage rate of capital and will also win larger Chinese markets.
And GTCA (Great Tao Credit Assurance Program), based on the credit, intends to assist the trading parties in providing a level of trust and resolving risk issues in trades. This program also aims at providing credit endorsement for international buyers on behalf of Chinese international trade companies, and offering an all-round transaction assurance to trading parties for fast order confirmation.
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