Alibaba breaks yet another Single’s Day record in 2018 with $30.8 billion, topping it’s own record–breaker haul in 2017 of $25 billion and not far off tripling that of Black Friday and Cyber Monday in the US, combined.
Singles’ Day is China’s official annual national holiday for freedom lovers to celebrate their bachelors’ degree on every 11/11. It was first turned into an national event for online shopping sprees by the e-commerce giant Alibaba in 2009, where Alibaba’s present CEO, Daniel Zhang, kicked off the campaign with special promotions for singles. Today, the campaign has been adopted by domestic and global competitors alike, i.e., JD.com and Amazon.com, to offer special promotions for singles on a regular yearly basis with a shy relationship status verification process.
For 2018, Alibaba started off beautifully with sales hitting $1 billion in a blistering 85 seconds. In addition to the exclusive promotions in Alibaba, promotions were expanded to famous e-commerce partners such as Lazada and Ele.me as well, the latter being Alibaba’s primary venue for home deliveries in a joint venture with Starbucks. To top everything off, world renowned singer Mariah Carey and model Miranda Kerr also attended a specially organized gala dinner to boost online sprees.
The key success factor behind Alibaba’s 2018 campaign was online-offline connectivity, where Hema, an Alibaba affiliate supermarket, played a key role in streamlining operational efficiency. Seemingly another supermarket chain in a big mix of many, Hema is known among customers for painless and stressfree checkouts. A purchase is handled quickly and easily through the downloaded App on the smartphone that is linked with Alipay. SImply scan the barcode on products, review the information on the smartphone and click Buy to be charged through Alipay and have it delivered to the registered home address at a specified time. Should home be within a 3-km distance and someone is there to take the delivery, the package will arrive in less than 30 minutes.
On the other hand, while sales has been breaking previous records with all time marks on a regular basis, growth rate has showed down from 36% in 2017 to only 27% this year, due partly to domestic economy in China. Alibaba nonetheless is constantly adjusting to keep pace with change and stay ahead of game with a good tailwind over competitors via latest AI technology, global market expansion through Lazada, and environmentally friendly packaging and fast delivery services in the same token that allows it to go above and beyond customer expectation.
Compiled by BLOG.SCGLogistics
References and photos cnbc.com, techcrunch.com, forbes.com, alizila.com, freepik.com