After basking in the glow of another record-setting Singles’ Day shopping extravaganza, China’s e-commerce powerhouse Alibaba Group Holding is banking on the rapid expansion of its cloud computing subsidiary and online payments platform to ratchet up international sales for the world’s largest e-commerce event.
“We are very much relying on Alibaba Cloud to be a key service provider and enabler in the markets where Alibaba is targeting to grow,” Alibaba president Michael Evans told the South China Morning Post in an interview. “That is very much in the same way Alipay has expanded hand in hand with our e-commerce business.”
The strategy reflects how much Singles’ Day, held each November 11, has become a barometer for the progress of Hangzhou-based Alibaba in e-commerce, marketing, logistics and payments, as well as in building the online infrastructure that supports those businesses.
The event this year chalked up a record US$25.3 billion in transactions in the 24-hour period.
Evans, who is responsible for Alibaba’s international growth strategy, said there were 60,000 international brands among the 140,000 total brands that took part in the event, up from 10,000 international brands last year.