Alibaba Group Holding is preparing to kick off its iconic Singles’ Day shopping festival with steep discounts and broad support for merchants as the Hangzhou-based e-commerce giant seeks to offset downward pressure on consumer spending amid mounting economic headwinds in China, reports the South China Morning Post.
Alibaba is promoting a membership system for brands to boost sales during the annual shopping extravaganza, which begins on November 11, and providing them with various support measures to reduce costs and increase traffic. More than 40 merchants on Tmall, Alibaba’s business-to-consumer platform, have 10 million members or more, giving them a solid foundation to secure sales goals, according to the company.
Tmall is working with around 30 industrial clusters, including female clothes-makers in Guangzhou, capital of southern Guangdong province, male clothes-makers in Suzhou in southeastern Jiangsu province, and shoe makers in Wenzhou, eastern Zhejiang province, to provide them with training ahead of the big sales event. Pre-sales for Singles’ Day begin on October 24.