70,000 Chinese retailers linked up with e-commerce giant Alibaba Group Holding Ltd. in hopes of increasing their overseas revenues during the recently held Singles' Day sale, according to a report by China Daily. The sale, which took place on Wednesday, Nov. 11, is the biggest shopping sales of the year.
"The Nov. 11 festival is the right time to attract more overseas customers, so they can learn about our brands," said Tu Xiusheng, general manager of Zhong Ding Tai Feng Trade Co. Ltd., in an interview with China Daily. A manufacturer and exporter of women's down coats, the company linked up with AliExpress to attract more overseas shoppers.
AliExpress is an online site launched in 2010 that aims to help market and sell Chinese products overseas.
It's a shrewd move that benefits both parties. Companies like Zhong Ding Tai Feng Trade will earn more revenues. Meanwhile, Alibaba, which aims to service 2 billion customers within the next two decades, will be a few steps closer to its dream of raising its global profile.
"We are hoping to attract consumers from more than 200 countries and regions to shop on AliExpress during the 24-hour sale," said Rita Hu, head of AliExpress's marketing. "Russia, Spain, France, the United States, Brazil and Chile are expected to be our main markets."
Since it joined the Nov. 11 shopping sale in 2014, AliExpress has processed over 6.8 million paid orders. Most of the customers come from Russia. AliExpress has also teamed up with postal services based in other markets to streamline delivery times.
"The majority of cross-border packages can now be delivered between 7 and 30 days," said Hu.
Overseas expansion for Chinese retailers is important as it is a means of maintaining strong growth, according to Lu Zhenwang, an independent analyst from Shanghai Wangqing Consultancy.
"Apart from bringing more foreign products to China, selling Chinese products overseas is also critical," he said.