Published By : 14 Oct 2015 | Published By : QYRESEARCH
Alibaba Group Holding Ltd has plans to institute offices in three countries in Europe as a part of its U.S. expansion program. This is in pursuit to revive growth and build assurance among jittery investors.
Alibaba, the biggest e-commerce operator in China will enter France, Germany, and Italy in the next few months. This was stated by the President of Alibaba at the company headquarters in Hangzhou recently.
As a consequence of a slowing domestic economy, the company is revving up its global expansion plans in order to turn around investor belief that was hard blown due to the US$ 117 bn drop in the market value since November. With Singles’ Day less than a month away, which is the busiest shopping promotion event on the Chinese calendar, Alibaba is on the lookout for global merchants for selling to the rising middle class in China.
As commented by the Chairman of Alibaba, China needs to shift from export to import. This will be a huge change for China that will open opportunities not only for China but for the whole world.
For sales promotion perspective, Singles’ Day that falls on November 11 has evolved to be the biggest excuse to shop in China that has led e-commerce operators to spate the Internet with discounts and promotions. Alibaba, which first participated in the event in 2009, started to replicate its success abroad last year, on account of spike in sales led by Russia.
For Singles’ Day, the one-day promotion gathered sales of US$ 9 bn through Alibaba’s payments system in 2014. However, this year the focus of the Singles’ Day promotion will be cross-border trades in pursuit of global expansion. As such, analysts are closely looking out for next month’s result in anticipation of signs of revival