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World’s biggest shopping event has netted Alibaba US$25.3 billion

  • News
  • November 13, 2017
  • Sarah Dunn
World’s biggest shopping event has netted Alibaba US$25.3 billion
Image: Alizilia

The Chinese shopping holiday Singles’ Day falls on 11 November. It’s been popularized as a ‘global shopping festival’ by Chinese ecommerce superpower Alibaba, and gets bigger every year. This time, Alibaba reports that US$25.3 billion of gross merchandise volume was settled during the event.

The US$25.3 billion GMV earnings represents an increase of 39 percent compared to 2016, when it raked in US$17.8 billion.

Singles’ Day falls on November 11 because ’11:11’ is thought to resemble a group of single people. Alibaba Group chief executive Daniel Zhang says the Alibaba brand Tmall first promoted the event as encouraging lonely single shoppers to console themselves with a gift, but as Singles’ Day grew in scale, it became more universal.

“Today, 11.11 is not only a day for Tmall, but also a day for all consumers, not just in China, but around the world. We’re happy to see more overseas merchants join us and more overseas customers participate in the event.  Consumption has no boundaries. Every person needs to consume.”

The event that Alibaba has developed Singles’ Day into since 2009, when just 27 merchants participated, is now staggering. There’s now a gala to celebrate the official launch featuring appearances from A-list Hollywood celebrities like Nicole Kidman, Pharrell Williams, Maria Sharapova and Jessie J, among others; and over 140,000 brands and merchants participated.

Alibaba’s global shopping festival took two minutes and one second to break US$1 billion in gross merchandise volume. Within the first hour, Alibaba’s payments system Alipay processed 256,000 payment transactions per second at peak, and more than 60 brands each generated more than RMB100 million (US$15.1 million). These included international brands like Apple and L’Oreal.

Mobile payments settled through 91 percent of total GMV throughout the event. The top-ranking countries selling into China during Alibaba’s global shopping festival included Japan, the United States, Australia, Germany and South Korea.

“More than US$25 billion of GMV in one day is not just a sales figure,” says Zhang. “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”

Alibaba is describing its mobile-heavy mix, which also incorporates bricks and mortar retail, ‘new retail’.

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Sale squared: Onceit talks deep discounts and sale events

  • News
  • November 20, 2017
  • Sarah Dunn
Sale squared: Onceit talks deep discounts and sale events

Kiwi high-end clearance ecommerce store Onceit works with more than 400 suppliers from New Zealand’s fashion, beauty and homewares industries to offload excess stock without brand damage. We had a chat with executive director Jay Goodey ahead of its once-yearly sale of sales.

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Enhancing the experience: Hospitality New Zealand

  • News
  • November 17, 2017
  • Courtney Devereux
Enhancing the experience: Hospitality New Zealand

Some commentators think food and integrated hospitality offerings will save brick and mortar retail from obsolescence in the age of ecommerce. But does catering to the consumer’s every need result in sales, or are shoppers moving on without making a purchase? In the Enhancing the experience series Courtney Devereux hears from Vicki Lee of Hospitality New Zealand about why these two different sectors are working together.

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What’s next for Auckland’s City Centre: a Q&A with designer Ludo-Campbell Reid

  • News
  • November 16, 2017
  • Elly Strang
What’s next for Auckland’s City Centre: a Q&A with designer Ludo-Campbell Reid

Auckland Council recently released a video detailing how far it’s come with the urban design of the City Centre over the last 10 to 15 years, as well as its vision for the years to come. Elly Strang talks with Ludo Campbell-Reid about the pace at which his vision is coming to fruition, the most impactful changes already made to the City Centre and goals for the future.

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Owner / Retailer: Suzie Johnson

  • News
  • November 16, 2017
  • Sarah Dunn
Owner / Retailer: Suzie Johnson

Oosh is a regional retail empire that’s built on empowering rural women. Founder Suzie Johnson chose the name after ‘Oosh’ was tagged into the side of her first store in Shannon, which she opened after putting her husband through university selling jewellery and paintings at markets.

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