Alibaba is leveraging its Singles' Day holiday to boost sales amid a revenue decline - Business Insider

Alibaba’s Singles' Day is the world's largest e-commerce sales day, and could serve as both a short- and long-term salve for Alibaba's sales performance:

its 11.11 Global Shopping Festival, culminating on Singles' Day, and it will see over 200,000 brands take part. This will likely see Alibaba set a new quarterly revenue record for itself in its fiscal Q3 2020 and potentially temporarily assuage any concerns about its performance.

It's using Singles' Day as an opportunity to get merchants on Tmall to upgrade to Alibaba's new online store format, which could boost Tmall's performance beyond the sales holiday. The new format, called Flagship Store 2.0, in July and can enable brands' online storefronts on Tmall to offer personalized content, augmented reality features, omnichannel opportunities, and other features, all of which could entice consumers to make more purchases.

, Business Insider Intelligence's expert product suite keeping you up-to-date on the people, technologies, trends, and companies shaping the future of consumerism, delivered to your inbox 6x a week. >>

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Danielle Bernstein, Joe’s Jeans Reunite After Successful CollaborationBernstein’s first collaboration with Joe’s resulted in the brand’s single biggest sales day on its web site.
Read more »

HSBC could see staff cuts amid a cost base adjustment and reorganization - Business InsiderHSBC's Q3 shortcomings sparked adjustments to its cost base and an organizational remodel – which could potentially lead to more staff cuts.
Read more »

Time to Get Shopping! This Year's Black Friday + Cyber Monday Deals Are InWhile Thanksgiving is considered the biggest holiday of November by many Americans, we're also focused on the biggest holiday shopping days of the year: Black
Read more »

Seeking nominations for the rising stars of Madison AvenueBusiness Insider is looking for nominations for its list of people who are shaking things up in the advertising world.
Read more »

Microsoft's Japanese Division Switched to a 4-Day Workweek — Then Productivity SkyrocketedJapan has been struggling with some of the world’s longest working hours
Read more »