Chinese e-commerce giant Alibaba Group Holding has vowed to support merchants with the necessary tools to help them succeed in its 11.11 global shopping festival, which was officially launched yesterday.
It is also sharpening its focus on high-value spenders and loyalty customers to boost spending amid the economic headwinds and China's zero Covid-19 policy. In the quarter that ended in June, Alibaba reported flat quarterly revenue growth for the first time in its history.
"11.11 this year will have the most diverse range of products in the event's history, with 17 million products available to more than one billion annual active consumers on our platforms in China, thanks to the support of our brands and merchants from around the world," said Chui Xue, president of the Industry Development and Operation Center of Taobao and Tmall under Alibaba.
