Coresight Research Countdown to 11.11 Series, #8: 9.9 Mega Sale; Moët Hennessy and Alibaba to Explore ‘New Retail’ Opportunities
Alibaba’s 11.11 Global Shopping Festival, also known as Double 11 or Singles’ Day, takes place on November 11 every year and it has now become the world’s biggest 24-hour online sale. This report series covers the various shopping festivals and developments in New Retail that have already happened or will take place till this event.
- Alibaba’s most recent shopping event was 9.9 Mega Sale held September 9–10. During the promotion period, US supermarket chain Kroger offered customers a variety of products in healthcare, personal care, and mother-and-child care categories, along with cold pressed oil and nuts.
- During this sales period, Kroger offered various vouchers that encouraged customers to shop more. For instance, customers could get ¥20 off on orders above ¥119. Kroger also offered tax–free shopping and free delivery.
- LVMH-owned wine and spirits specialist Moët Hennessy and Alibaba are exploring opportunities in New Retail. Moët Hennessy will leverage Alibaba’s ecosystem and sell products across Alibaba’s retail platforms: Tmall, Tmall’s Luxury Pavilion and Hema supermarkets.