This year’s 11.11 Global Shopping Festival wrapped up with record-breaking success, attracting more than 800 million consumers across its 11-day run. Alibaba Group Chairman and Chief Executive Officer Daniel Zhang shared his thoughts about the evolution of 11.11 as well as the opportunities this year’s festival brought to emerging brands, in Shanghai on Monday 16 November.
Change Is the Only Constant – A Festival that Always Evolves and Innovates
Zhang explained that Alibaba has had to constantly evolve to keep pace with the consumer demands of 11.11, especially this year, which he said was a new beginning for the festival.
“We wanted to explore a completely unique 11.11 by seeking change. On one hand, we needed to maximize the efficiency of resource allocation, while on the other hand, we wanted to be able to interact with consumers and to create better and more unforgettable experiences.”
Alibaba’s robust digital infrastructure has been instrumental in allowing 11.11 to continue evolving and growing in this manner. By optimizing the resources in its vast ecosystem, the company was able to handle 583,000 orders per second during peak activity this year, with its logistics arm Cainiao processing more than 2.32 billion delivery orders during the 11-day period. This year’s festival also saw the use of digital tools such as livestreaming to create immersive and engaging retail experiences for both consumers and
“The number of young consumers is increasing and the lifestyle habits of shoppers is also getting younger. In fact, what we are operating is a lifestyle, and we have to keep up with the times. I believe 11.11 needs to become even more entertaining and more inspiring, since customer needs are constantly changing. We must continue to innovate to meet their needs,” Zhang said.
We recorded another successful 11.11 together with our consumers, merchants and partners global wide. The key of this success is the acceleration of digitalization of businesses. We all recognize how the pandemic has been accelerating the digitization which now has become a necessity rather than an option.”- Daniel Zhang, Alibaba Group Chairman and Chief Executive Officer.
Empowering Emerging Brands to Find Success
This year’s 11.11 saw more than 250,000 participating brands. While there was no shortage of big names, including Apple, L’Oréal and Nike, the festival was also the perfect opportunity for emerging brands to shine and promote their products to consumers. In fact, during this year’s festival, 357 emerging brands became top sellers in their respective subcategories.
According to Zhang, emerging brands that were most successful possessed several key traits: They make functional, high-quality products with unique selling points; they target and connect directly with their audience; and they use their sales channels not just for transactions but also as platforms for consumer education and communication. 2 million new products participated in 11.11 festival 357 emerging brands became top sellers in their respective subcategories Brands with these characteristics were best able to leverage Alibaba’s tools and resources to achieve stellar results.