Fresh from pulling off the world’s largest IPO, China’s Alibaba (BABA.N) is set to impress Wall Street with record sales on Singles’ Day, the year’s biggest online festival, but merchants complain that they bankroll the e-commerce giant’s big day. Alibaba turned the Singles’ Day celebration, Nov. 11, into an online shopping festival in 2009, copyrighting the “Double 11” term three years later after recognizing its commercial potential.
Published in TZ Latest News 10 November, 2014 by The TZ Newswire Staff
Merchants’ margins suffer for Alibaba’s Singles’ Day shopping bonanza
Published in TZ Latest News 10 November, 2014 by The TZ Newswire Staff
Merchants’ margins suffer for Alibaba’s Singles’ Day shopping bonanza
Fresh from pulling off the world’s largest IPO, China’s Alibaba (BABA.N) is set to impress Wall Street with record sales on Singles’ Day, the year’s biggest online festival, but merchants complain that they bankroll the e-commerce giant’s big day. Alibaba turned the Singles’ Day celebration, Nov. 11, into an online shopping festival in 2009, copyrighting the “Double 11” term three years later after recognizing its commercial potential.