China’s Alibaba seeks to globalize Chinese shopping holiday
China’s Alibaba Group is taking another step to draw international users to its e-commerce sites by offering deep discounts on products during an upcoming sales promotion on Nov. 11.
The company is taking the annual sales event global this year, in the hope of attracting buyers from 200 countries, Alibaba said in an online posting on Monday.
Held every Nov. 11, the sales festival arrives on Singles Day in China, a local holiday that’s also become a time when the country’s e-commerce sites offer low prices on goods. The sales have been so high that last year Alibaba’s own e-commerce sites processed over US$5.7 billion in goods during the holiday, making it a new record.
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