Alibaba (9988) will launch a shopping day on June 18.
The tech titan’s Taotian Group announced yesterday it will launch the mid-year shopping festival, eliminating the presale period in favor of direct sales, and offering immediate discounts and over 15 billion yuan (HK$16.17 billion) in coupons.
This includes issuing exclusive coupons worth over 10 billion yuan to more than 35 million 88VIP members, as well as distributing over 5 billion yuan in coupons through Taobao live stream red packets, specific category discounts, and venue-specific offers.
Meanwhile, the official 15 percent discount and the offer of 50 yuan off every 300 yuan spent will continue throughout the event.
Taotian said that, unlike previous years, this year’s event will only feature in-stock items, reducing the waiting time for consumers between placing an order and receiving their goods. This year’s event will be divided into two sales periods: from May 20 to May 28, and May 31 to June 20.
Staff reporter