Business
Alibaba Rolls Out $5.7 Billion Aid Package to Merchants for Singles’ Day: Taobao and Tmall Boost E-commerce Competition with $4.6 Billion Investment in Traffic and Consumer Vouchers
As part of their preparations for Singles' Day, Alibaba plans to provide $5.7 billion in support to vendors. Taobao and Tmall intend to distribute consumer coupons worth 30 billion yuan and allocate resources valued at 10 billion yuan to increase site visits, in the midst of the competitive e-commerce landscape.
Alibaba, the owner of the South China Morning Post, operates the biggest shopping platforms. As per the recent statement by Taobao and Tmall Group, Alibaba's home-grown e-commerce division, they intend to distribute consumer coupons worth 30 billion yuan and allocate resources valued up to 10 billion yuan to enhance site visits.
The platforms have also implemented new strategies aimed at lowering the operational expenses for sellers. These strategies involve focusing on the costs related to customer returns and eliminating different types of commission fees, as per the group's statement.
This indicates a preliminary action by the tech giant located in Hangzhou, currently striving to secure its market position in the aggressively contested local e-commerce landscape, to enhance its business during China's biggest online shopping event.
Three nineteen
Singles' Day: The world's largest internet shopping festival kicks off despite a slump in China's economy.
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