SOURCE / COMPANIES
Global brands eye China’s Double Eleven to boost sales
Published: Oct 20, 2020 05:33 PM

Online shopping platform Lazada launches its biggest promotion programs of this year in Vietnam on the occasion of Double Eleven Sales, which falls on Nov. 11, 2019. (Xinhua)



With China's biggest e-commerce gala, Double Eleven (November 11) approaching, international brands are seeing the shopping event as an important opportunity to boost sales growth in one of the world's largest markets. 

According to a report sent by Tmall, Alibaba's e-commerce platform, this year's Double Eleven will feature products from more than 220 countries and regions. A slew of international luxury brands will launch promotional campaigns hoping to attract more customers in China. 

Apart from companies that were already cooperating with Tmall such as Chanel and Dior, an increasing number of global luxury brands are signing up for this year's Double Eleven for the first time. 

According to the report, German sports car brand Porsche has set up a Tmall outlet, and Vacheron Constantin, a Swiss luxury watch brand, has decided to release its latest products - originally scheduled for Christmas - on this year's Double Eleven. 

As the only country expected to pose a positive economic growth this year, many international brands are seeing China as their main opportunity for growth in 2020. 

According to China's National Bureau of Statistics, China's GDP grew 4.9 percent in the third quarter, bringing the growth in the first three quarters to 0.7 percent from a year ago. This is the first positive cumulative GDP growth since the outbreak of the novel coronavirus.

The potential of China's spending power has also drawn the attention of another industry: businesses selling agricultural products. During this year's Double Eleven, Tmall has secured partnerships with five countries, ensuring that Chinese customers can easily enjoy agricultural products from round the world, including milk from Uruguay, tea from Sri Lanka, wine from Italy and coffee beans from Rwanda.


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