Posted by Sheila Shayon on November 11, 2014 04:05 PM
He may find it a "great pain" to be China's richest man, but Jack Ma has nobody to blame but himself. After all, the Alibaba CEO has created a global sales event bigger than Black Friday and Cyber Monday combined.
China's online retail giant made $9.3 billion in sales during this year's 11/11 Singles Day, blowing past last year's record $8 billion haul by handling 278 million transactions, 43% of which were placed on mobile devices.
By 12:17am, 17 minutes into the Nov. 11th annual event, Alibaba had clocked its first $1 billion in sales, passing its second billion just 12 seconds after the one-hour mark. Seven and a half hours into the day, sales passed the $10 billion mark. Continue reading...
Posted by Dale Buss on November 11, 2014 09:31 AM
Alibaba racks up $2 billion in sales in first hour of 11/11 Singles Day for record-breaking sales tally, mulls Apple Pay tie-up with focus on China.
Google signs long-term NASA lease for aviation and space projects.
Mercedes-Benz expands brand world and introduces new vehicle nomenclature.
Super Bowl sees slightly slower ad buys for NBC as auto marketers tighten belts.
Spotify CEO responds to Taylor Swift boycott as pop star partners with Amex Unstaged on interactive music video app. Continue reading...
Posted by Dale Buss on November 10, 2014 09:35 AM
JetBlue changes livery in honor of Veterans Day.
Alibaba prepares for 11/11 Singles Day e-commerce bonanza.
Honda aims to prioritize quality over sales targets in wake of air bag crisis.
P&G sees Tide Pods hit anew in poison control report finding child a day sent to hospital by pod ingestion.
Oreo to release churro cookie and PepsiCo tests Doritos-flavored Mountain Dew and Pizza Hut plans "Flavor of Now" brand overhaul with craft pizza including curry-flavored crust.Continue reading...
Posted by Sheila Shayon on November 7, 2014 03:59 PM
China's relatively new Singles Day e-commerce promotion on 11/11 has become the biggest shopping day worldwide, breaking more sales records each year since its inception.
Beginning in 2009 with 27 brands, the event was so big last year that banks were overwhelmed with transactions from Chinese retailers like Alibaba's Taobao Marketplace and Tmall.com, which logged $5.75 billion in sales—more than twice what U.S. retailers made on Cyber Monday in 2013.
Now forecasters are calling for a sales haul that could surpass $8 billion worldwide, and 11/11 mania is spreading worldwide. Continue reading...
Posted by Dale Buss on November 4, 2014 09:15 AM
Alibaba revenues rise 54 percent in first earnings report as public company.
Apple and Google overcome differences for Disney Movies Anywhere partnership.
Burberry unveils Romeo Beckham as star of holiday ad campaign.
Hyundai and Kia are sanctioned with $350 million U.S. fine for misleading fuel-economy claims.
Emirates Airlines drops out as FIFA sponsor. Continue reading...
social media watch
Posted by Abe Sauer on November 3, 2014 06:11 PM
Rumors of Weibo's death have, apparently, not been exaggerated.
Weibo—an Alibaba property—was once the golden goose of China's booming social media scene. It eclipsed Facebook and Twitter, and looked like it would eventually rule the world. Brands and celebrities—both foreign and domestic—rushed to open Weibo accounts. The platform looked unstoppable. Then, a year ago, China's leaders began a censorship campaign that would lead to the behemoth's swift decline.
Following a 2013 crackdown on "rumormongering" that heavily focused on Weibo bloggers and especially "Big V" verified accounts, the social site lost close to 28 million users. That coincided with a 9 percent decline in growth for Weibo in 2013. Both the number of users and their engagement levels have continued to drop rapidly, particularly in light of the heavy censorship on Weibo over the recent protests in Hong Kong, which has done little to improve the platform's image.Continue reading...
Posted by Dale Buss on October 31, 2014 09:16 AM
Chevrolet rolls big with #ChevyGuy tongue-tied World Series fumble with #technologyandstuff hashtag as GM halts deliveries of Colorado pickup for air-bag problem.
Honda and Takata are sued over air bag defects as US officials also home in.
Nestle commissions empathetic robot to sell Nescafe machines in Japan as the New Yorker profiles Lowe's robot.
Starbucks slates e-commerce delivery for 2015.
LeBron James returns to Cleveland with a loss to the Knicks but a stunning Nike ad among sponsor tributes. Continue reading...
Posted by Dale Buss on October 30, 2014 09:12 AM
Apple CEO Tim Cook says he's "proud to be gay" in Bloomberg Businessweek public coming out essay following LGBT rights speech (above) as his company looks to sell iPhone in Iran while CurrentC, rival mobile-payment system to Apple Pay, is hacked.
Microsoft unveils Microsoft Band fitness wearable as it finishes round of previously announced layoffs.
Burger King clears antitrust hurdle with Tim Hortons deal.
Kohl's launches badly needed makeover and details Thanksgiving opening plan.
SodaStream shifts toward carbonated water and plans to close controversial West Bank factory.Continue reading...