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Alibaba Launches Singles’ Day Global Shopping Festival

Executive Summary

  • On October 13, Alibaba Group launched its 2015 11.11 Global Shopping Festival in its Hangzhou headquarters in China.
  • This year, Alibaba is estimating that Singles’ Day gross merchandise value (GMV) will reach $12.6 billion, up 35.5% from last year.
  • Despite China’s economic slowdown and stock market turmoil, its e-commerce sector is still going strong. Alibaba’s Singles’ Day campaign is poised to benefit from this steady growth.
  • The recent Alibaba-backed merger of group-buying companies Meituan and Dianping and Alibaba’s acquisition of video platform Youku Tudou have further strengthened the company’s leading position in China’s Internet and commerce spaces.
  • This year, Singles’ Day will be more international than ever.

Click here to read more Coresight coverage of Singles Day over the last few years.

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