Singles’ Day was started in 1993 at Nanjing University as a day for students to celebrate their singledom, and they selected 11/11 because the 1’s symbolize solo living. Alibaba realized Singles’ Day could be a marketing opportunity, and in 2009 they launched their first shopping event on 11/11, with 27 brands generating total gross merchandise volume (GMV) of $7.8 million. Over the past decade, Alibaba has transformed the holiday into the biggest shopping day on the planet.
Alibaba Group’s Tmall Global is launching the Go Global 11.11 Pitch Fest, a virtual event designed to help small and medium-sized businesses in the United States expand into the Chinese market by featuring their products in the upcoming 11.11 Global Shopping Festival. Last year Singles’ Day hit another record high. Total GMV on Alibaba’s various platforms hit $30.8 billion, up 27% from the prior year, and a huge 252% CAGR over the previous nine years.
Since 2014, Tmall Global has helped thousands of US brands sell directly to hundreds of millions of Chinese consumers. In the last three months alone, the platform has launched more than 100 US brands, more than double the number launched over the same period last year.
Eligible brands can register to pitch to a panel of industry experts and receive valuable advice on international distribution and expansion into China. Selected entrants will be fast-tracked and launched on Tmall Global through its Overseas Fulfillment program. Brands that are selected to participate in the 11.11 Festival this year will get hands-on advice from Tmall Global, and their products will be featured on the marketplace during the shopping festival.
“U.S. small and medium-sized businesses are facing challenges during this unprecedented time, but we know they are resilient and looking for growth opportunities,” said Tony Shan, Head of Tmall Global for the Americas. “We hope to inspire and enable many small and medium-sized U.S. brands to grow their business and broaden their customer base, while also bringing more high-quality American products to consumers in China.”
US small and medium-sized brands that participate in the Go Global 11.11 Pitch Fest will be able to use Tmall Global’s Overseas Fulfillment program, a solution that offers greater inventory flexibility and reduces operational and logistics costs. Tmall Global also works directly with the businesses to give them marketing advice and tools to boost brand awareness. Analytics generated from platforms, such as sales performance and consumer preferences, can help brands make more-informed decisions about their long-term China and global strategy.
The deadline for submissions is September 4, 2020.
