Alibaba announces 11.11 global shopping festival

Alibaba has officially launched its 11.11 Global Shopping Festival this year in a ceremony at its headquarters Hangzhou, China.

The e-commerce giant said its push for this year’s festival is for Alibaba to serve as  the “gateway to China” for brands worldwide. Representatives from 39 countries, more than 40 partnering international brands, and nearly 30 fresh food associations from around the world attended the launch.

“There are currently 300 million middle class in China, and that number will rise to 500 million in 10 to 15 years. This will be an opportunity for every nation,” he said. “China’s consumption power will rise quickly and that will not only drive China’s economy but also the world’s economy.”

Alibaba CEO Daniel Zhang, who was instrumental in creating the first 11.11 sales event in 2009 when he led Tmall.com, said that the sales event has evolved from a marketing event for online shopping into a global phenomenon that involves consumers in China and around the world.

“This year’s 11.11 will focus on four key themes: omni-channel, mobile, logistics, and globalization. It showcases the scalability and power of Alibaba’s entire ecosystem,” he said.

This year’s 11.11 is also expected to bring to life Alibaba’s overall globalization strategy outlined by Michael Evans in his first public appearance as president of Alibaba.

More than 40,000 participating merchants, 5,000 participating international brands from 25 countries, and more than 6 million products available for purchase in this year’s one-day shopping frenzy.

Last year, the 24-hour festival generated $9.3 billion in gross merchandise volume, dwarfing Cyber Monday in the US.