Within the first hour of the 11.11 Global Shopping Festival, total gross merchandise volume had exceeded 67 billion yuan — nearly $10 billion. https://www.google.com/amp/s/www.zdnet.com/google-amp/article/alibaba-generates-149-billion-yuan-in-sales-in-first-12-hours-of-11-11/
Tag: Alibaba
From $100 million in 2009 to 250 times that in 2017, $25 billion
“The global retail market is adjusting to China’s rising economic power, and Chinese customers’ desire for AI-enhanced mobile shopping experiences. Singles Day’s spread across the world suggests a new chapter of computer-enhanced shopping experiences is beginning. Alibaba, the giant Chinese e-retailer that promoted the day as an opportunity – or excuse – for single people…
Alibaba – Robots handled 95% of customer service inquiries
“Trademarked by Alibaba in 2009, Single’s Day – 11th November – has grown into the world’s largest online shopping event. With record sales year-on-year, particularly in Southeast Asia, the seasonality of the day reportedly resulted in a 191% spike in sales for Lazada, an eCommerce platform owned by Alibaba. “Data-driven personalization drove additional product discovery,”…
AliExpress now controls 69% of Russia’s e-commerce market
IMAGE SOURCE: GETTY IMAGES “Yandex (NASDAQ:YNDX), which owns Russia’s top search engine, recently launched an online marketplace called Beru, which it claims could become one of the country’s top three e-commerce platforms for local goods by the end of 2020. AliExpress now controls 69% of Russia’s e-commerce market according to Ecommerce News Europe. Alibaba also launched a dedicated version…
AI tool that it can produce 20,000 lines of content a second
“Alibaba has introduced an artificial intelligence (AI) tool that it says can produce up to 20,000 lines of content a second, helping merchants on its retail sites generate product information without humans. According to Alibaba, merchants and marketers on its e-commerce sites including Taobao, Tmall, Mei.com, and 1699.com have used the copywriting tool, on average,…