Started by Alibaba in 2009, 11.11, also known as Double 11 or Singles’ Day, which takes place on November 11, has grown to become a famous shopping festival, not just in China, but around the world. This report series covers the various shopping festivals and developments in New Retail that are taking place through to November 11.
Countdown to 11.11
When it comes to online shopping festivals in China, the first one that comes to mind is Alibaba’s now well-known Double 11 Shopping Festival. The success of the first-ever 11.11 event, which took place on November 11, has led to many more shopping festivals held throughout the year, notably, Women’s Day on March 8, the 618 Shopping Festival and the 88 Members Festival on August 8.
This is the fourth report in our Countdown to 11.11 series, which covers the various shopping festivals as well as developments in New Retail taking place through to November 11.
Alibaba’s Qixi Promotion
Continuing this week is Alibaba’s Qixi (China’s equivalent to Valentine’s Day) Promotion, which started on August 9 and runs through to the close of August 19. During the promotion period, Pandora is offering jewelry exclusively to Chinese customers in honor of Qixi.
The company is offering four types of promotions to encourage customers to shop more and shop faster, including vouchers, order-fast awards, free delivery and special promotions on certain types of jewelry packages. For instance, for the order-fast awards, users who are among the first 300 buyers could get a customized Valentine’s card.
Alibaba Launches Its Top-Tier “88 VIP” Membership
Alibaba launched a new “88 VIP” membership tier within its customer loyalty program for Tmall and Taobao marketplace customers that was launched last year, the 88 Membership Club. In China, eight is considered a lucky number and “88” means more luck. Users who have more than 1,000 membership points can purchase the “88 VIP” package for an annual fee of ¥88 ($12.8). Users with fewer than 1,000 points can pay ¥888 ($129) to upgrade to the “88 VIP” tier.
“88 VIP” members can enjoy a 5% discount on Tmall Supermarket, different flagship stores of 88, and both local and international brands on Taobao and Tmall. They are also entitled to membership across various Alibaba platforms, such as online video hub Youku, music platform Xiami, food delivery platform Ele.me and online ticketing platform Taopiaopiao. Through this new initiative, Alibaba plans to provide customers a seamless experience across its different platforms, both online and offline.
On August 8—or 88, which means more luck in Chinese—Alibaba hosted a gala for its members in Guangzhou, with 12 celebrities performing. Users could obtain tickets by logging onto Taobao to enter the lucky draw. Members can also pay a fee of ¥888 ($85.4) plus 200 membership points for VIP tickets, or ¥188 ($27.3) plus 200 membership points for standing tickets.
Tencent Expands E-Commerce by Investing in Haoyiku
Social media giant Tencent invested in e-commerce platform Haoyiku, which literary means “good quality clothing store.” Haoyiku targets customers from the lower-tier cities in China, tier-3 to tier-5. It connects merchants and consumers via WeChat. Haoyiku cooperates with more than 300 brands, including Semir, Peacebird, Li-Ning and Anta. Over 60% of the products on the platform are apparel.
With WeChat, Haoyiku has introduced several New Retail features:
Recent developments in the area of New Retail are covered in the table below. Alibaba stands out as a major player launching New Retail projects, including working with Starbucks to deliver a “seamless Starbucks experience” to its customers in China.
Chinese majors such as Alibaba, Tencent and JD.com have invested in properties to expand their New Retail capacity. The investment ranges from logistics firms and online marketplaces, to brick-and-mortar stores.
The table below covers Alibaba’s recent investment and acquisitions, including investment date, investee, type of industry and funding details if available.
The table below covers Tencent’s recent investment and acquisitions, including investment date, investee, type of industry and funding details if available.
The table below covers JD.com’s recent investment and acquisitions, including investment date, investee, type of industry and funding details if available.
This is the fourth report in our Countdown to 11.11 series covering the various shopping festivals as well as developments in New Retail taking place through to November 11.
Continuing this week is Alibaba’s Qixi Promotion, with Pandora offering jewelry eals exclusively to Chinese customers in honor of Qixi, China’s equivalent to Valentine’s Day. Alibaba also launched its top-tier “88 VIP” membership program to provide customers a seamless experience across its various platforms, both online and offline.
In terms of New Retail developments, e-commerce platform Haoyiku is collaborating with Tencent’s WeChat to leverage WeChat’s all-in-one platform for social networking, mobile payments and shopping to tap into over 1 billion MAU.