Alibaba Opens Taobao for Black Friday in China
Alibaba is going to be busy this Black Friday. They’ve already opened the e-commerce site for business and already have you shopping. There is some fine print, so read carefully, but essentially, Black Friday on Alibabas is for the bargain hunters. Just remember, this doesn’t mean that all other shopping portals will be closed. The list of retailers still open is below.
Etihad Airways Etihad Airways Limited, the Abu Dhabi-based airline, is among the 20,000 or so brands and retailers that have signed up for Alibaba’s inaugural ‘Singles’ Day’ event on November 11th. Similar to Black Friday, Singles’ Day has become an eagerly anticipated shopping festival, drawing hundreds of millions of buyers around the world.
alibaba open taobao for black friday in china
Chinese ecommerce giant Alibaba is stepping up its efforts to capture the Black Friday market in China. The company will open its Taobao online shopping platform for the holiday season on November 23, according to Chinese newspaper Chutian Metro.
Taobao is a China-only online shopping platform owned by Alibaba and also one of the largest shopping sites in the world. An Alibaba spokesperson declined to comment on the new initiative. However, the company confirmed to Reuters that it will open its Taobao portal for Black Friday on November 23.
Black Friday has evolved into one of the most prominent shopping days in the United States as it commemorates the day when businesses began advertising for the Christmas shopping season.
Alibaba opens Taobao for Black Friday in China
Alibaba is encouraging people to shop before Cyber Monday with a Black Friday sale on its online shopping website Taobao, China’s biggest. The company’s arch-rival, JD.com, is also doing the same, but its event is starting a day earlier on November 22. With both e-retailers coming out with massive discounts and cashbacks on a wide variety of items, it’s expected that millions of people are going to be part of the Black Friday activity on Alibaba. The Chinese e-commerce giant started the sales on November 19, however some users who were early enough in the buying process were offered special incentives.
For those interested, Taobao is offering a 50% discount on orders of RMB 1,000 and above.
Alibaba’s Taobao to offer Black Friday discounts in China
Alibaba and retailer Laiwang on Tuesday announced the sale of discounted products through Alibaba’s Taobao marketplace for China’s Black Friday shopping event on November 28.
According to a Sina news report, prices of about 10,000 popular products will be discounted starting from 6pm on Tuesday. The products range from electronic accessories, homeware items, fashion items, baby products, health items, cosmetics, and sports apparel. Alibaba said that the Laiwang brand will be the exclusive online partner of Laiwang.com, one of China’s biggest electronic and personal computer e-commerce portals.
Selecting a preferred item from these discounts will offer Laiwang.com shoppers great deals, with the promise of free shipping on all products purchased from Taobao.
Conclusion
Q2 came in in line with our estimates. We estimate EPS of $0.40, which implies a 4% drop on a year-over-year basis.
Our Growth Engine continues to show solid growth in both revenue and EPS, with growth accelerating from the first quarter to the second quarter.
China e-commerce continued to accelerate, accounting for a record high 38% of the overall global online retail market.
In the first quarter, Alibaba (NYSE:BABA) reported impressive second quarter results, beating earnings estimates and surpassing revenue estimates. The quarter witnessed accelerated growth in cloud computing, accelerated growth in global core commerce, and stable growth in Tmall (China’s largest online retail platform).
Source
“Fraud via e-Commerce in China are historically low” explained Jin Wang Associate
Taobao KOL via MarketingtoChina
