Alibaba’s Singles' Day is the world's largest e-commerce sales day, and could serve as both a short- and long-term salve for Alibaba's sales performance:
its 11.11 Global Shopping Festival, culminating on Singles' Day, and it will see over 200,000 brands take part. This will likely see Alibaba set a new quarterly revenue record for itself in its fiscal Q3 2020 and potentially temporarily assuage any concerns about its performance.
It's using Singles' Day as an opportunity to get merchants on Tmall to upgrade to Alibaba's new online store format, which could boost Tmall's performance beyond the sales holiday. The new format, called Flagship Store 2.0, in July and can enable brands' online storefronts on Tmall to offer personalized content, augmented reality features, omnichannel opportunities, and other features, all of which could entice consumers to make more purchases.
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