Five Takeaways From Alibaba's Record-Busting $9.3 Billion Shopping Fest
Alibaba set a new record selling $9.3 billion in merchandise during the annual e-commerce holiday. The sales on Nov.11 exceeded the 2013 record of $5.8 billion. Approximately, 43% of sales came from the mobile channel. Alibaba's ambitions are growing bigger, more mobile and more global.So what are the big takeaways?
- Size Matters: Everything the company does is larger than life! The company invited more than 600 reporters to its headquarters in Hangzhou, offers more than 1 billion product listings on its platforms and had the record for the biggest initial public offering.
- Jack Ma is the Steve Jobs of China: The big buzz of the night was whether Mr. Ma would appear.
- Mobile has momentum: Every year Alibaba growths its mobile sales, the figure was 5% in 2012, 21% last year and nearly 43% this year. In China, many people are going online for the first time on a smartphone, not a desktop which gives mobile a big room for growth.
- Chinese brands win: Even with many big western brands available, the top sellers were local brands.
- Alibaba has global ambitions but is laying low in the U.S--for now: Joe Tsai, Alibaba's executive vice chairman, said the focus now is bringing goods from U.S. merchants to Chinese consumers, though targeting U.S. shoppers could be interesting later on.
Source: A.Doland. (2014, November 11). Five Takeaways From Alibaba's Record-Busting $9.3 Billion Shopping Fest. Ad Age
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