Alibaba’s Version of Prime Day Expands to 11 Days
Revenue in Alibaba’s fiscal Q2, ended Sept. 30, jumped 30% from a year earlier on “deeper adoption” of the platform, accelerated by COVID-19 and “the rapid economic recovery in China,” said CEO Daniel Zhang on a Thursday investor call. “Digitalization…
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is now universally recognized as a way forward in the post-pandemic world.” Global Shopping Festival, Alibaba’s equivalent of Amazon Prime Day, used to be a 24-hour event but this year was expanded into an 11-day marathon in two “shopping windows,” he said. The first ran Nov. 1-3; the second starts Nov. 11 and runs for eight days, he said. “We want to give consumers more time to browse and get the deal while easing pressure on the logistic infrastructure. This helps consumers receive their package sooner and enjoy a better shopping experience. Our merchants will also benefit from more exposure and selling opportunities.” On the festival's first day, more than 100 brands each surpassed sales of 100 million Chinese yuan ($15.1 million) “within the first 111 minutes,” and 357 new brands “on our platform became the top sellers in their respective subcategories,” he said.