Looking back, 2021 may have been the liveliest Double 11
In 2009, not long after Taobao Mall was founded, a group of 'ignorant and fearless' Alibaba employees planned the first 'Double 11' event on a few sheets of A4 paper.
Is the '6·18' cross-store spend-and-save a platform subsidy or merchants paying out of their own pockets?
E-commerce platforms are flooded with cross-store spend-and-save offers. Who pays for them? On June 8, a Beijing Business Today reporter's investigation found that if they want to participate in '6·18' and seize the traffic dividend during the big promotion, small and medium-sized merchants cannot avoid paying out of their own pockets to participate in the spend-and-save offers, in order to catch up with the pace of e-commerce promotions. However, some merchants admit that bearing all the costs themselves will indeed further squeeze profit margins, and they also have to pay marketing expenses at each stage, so the operating pressure can be imagined. Despite their different considerations, whether merchants or platforms, they are ultimately keen on a series of spend-and-save discounts, hoping to attract more consumers and convert them into long-lasting traffic.
Alibaba Slows Down: Taobao Drags It Down, New Businesses Burn Cash, Market Value Shrinks by More Than Half
Over the past year, Alibaba has been quite 'bumpy.' It was not only fined 18.2 billion yuan by the State Administration for Market Regulation, but super streamers Viya and Xueli, who are strongly associated with Alibaba, also ended dismally due to 'tax incidents.' Under the influence of various unfavorable factors, Taobao and Tmall showed negative growth for the first time, heavily invested new businesses have not yet become profitable, and Alibaba's market value shrank by more than half in 2021.
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