Alipay Denies Rumors of TMall Canceling Singles Day Sale
CCIDnet, 11/23/12
At the recently held 2012 Alipay Technology Summit in Hangzhou, Li Jingming, CTO of Chinese e-commerce conglomerate Alibaba Group's third-party payment subsidiary Alipay, denied rumors that sister B2C e-commerce firm TMall will not hold a Singles Day (November 11) sales event next year. Earlier media reports claimed that the promotion would not be held next year, but Li said that Alibaba had not made any such announcement and has not decided whether it will hold a Singles Day sales event next year.
Editor's Note: TMall president Daniel Zhang announced at the 2012 China E-Commerce Innovation Development Summit in Beijing today that TMall will continue to hold the promotional event. Zhang added that 15%-20% of visits during the event this year were from mobile devices. For more background on this topic, please see "Rumor: TMall to Drop Singles Day Sales Event in 2013" MD 11/15/12 issue.
Keywords: e-commerce Internet B2C Li Jingming Alibaba Group TMall Singles Day Daniel Zhang marketing
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