It is leaked on China internet that Tmall’s goal for transaction value on Double 11 (11 Nov 2014) is expected to reach RMB50 billion ($8.16 billion) in 2014. In 2013, Tmall created an one day sales record of RMB35 billion ($5.7 billion) on double 11, which had great impact on China retail market.
If Tmall’s transaction value breaks RMB50 billion on double 11 this year, it will have 40% growth rate from last year. However, many professionals believes that RMB50 billion could be a conservative estimate and the final value could be more than the estimated number.
On this year’s Double 11, Tmall will cooperate with Taobao to enlarge its impact and coverage, which will release much market potential in China.
There are three new features about this year’s double 11 on Tmall:
- Globalization. Its goal is to make Chinese consumers buy global products and make people all over the globe can buy Chinese products. At present, Alibaba has AliExpress and Taobao international, which can make deals much easier for cross border online retailers, covering over 220 countries, targeting foreigners and overseas Chinese.Tmall has been making efforts to attract international brands to open flagship stores. Such as CK, Burberry, Estee Lauder and Costco, they all opened Tmall flagship stores in 2014. On double 11, products on Tmall international will have cheaper price and faster logistics. Costco joined this year’s Double 11 campaign to offer 50% discount for selected products.
- Wireless. In addition to powerful platforms like mobile Tmall, mobile Taobao, Alipay Qianbao, Taodiandian, UCweb, which now support users to log in with Taobao account so users can enjoy convenience and shopping privilege on UC mobile browser, Youku, Weibo and Yintai.com all join in Double 11 event.Consumers can scan QR code on package to get Hongbao from relative stores. Tmall members can enjoy priority, which is a highlight on double 11. Priority refers to members can book online products they like in advance.Besides, wireless extends to O2O market, such as off-line shopping, Taobao Trip, Taobao Movie, Taobdiandian.
- Platformization. Shopping carnival festival on Double 11 also includes 26 superstars, 12 designers, 11 fashion icons, 14 online gamers, 6 technonlgy icons as well as 1,111 Hongbao providers.