Alibaba is expected to hit gross merchandising value — or the value of goods sold via its platforms — of around $37 billion, more than the roughly $30 billion it hit in 2018.
The company is expected to hit gross merchandising value — the value of goods sold via Alibaba platforms — of around $37 billion, more than the roughly $30 billion it hit in 2018.
that day, offering heavy discounts on its Tmall shopping platform. That year, gross merchandising value — or the value of goods sold via Alibaba platforms — hit $7.8 million.To keep growing, against the backdrop of the ongoing U.S.-China trade war, slowing Chinese growth, and increased competition, Alibaba has been expanding its offerings into new product categories and experiences.Alibaba usually kicks off Singles Day with a gala event which ends just before midnight on Nov. 11.
Kim Kardashian did a live stream on Alibaba's Tmall platform to announce her fragrance range KKW would be available for purchase on the e-commerce site.Companies are selling items from cars to cosmetics via livstreaming. Alibaba said on the first day of its pre-sales that more than 17,000 brands started livestreaming. Chinese smartphone-makerShort videos are also very popular in China and livestreaming commerce taps into that trend.
International brands are expected to play a big role. In China, 60% of consumers intend to purchase imported products, according to a 1,000-person survey carried out by management consulting firm Oliver Wyman.
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China's Singles' Day is not a reason to buy Alibaba, if history is any guideChinese citizens will spend $30 billion or even more on Singles' Day, but that's never been a reason to buy Alibaba shares. The Chinese internet commerce giant tends to fall in the week ahead of the big holiday.
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