Alibaba.com launches first Southeast Asia Lunar New Year stock-up festival
Alibaba.com has announced the launch of its first Southeast Asia Lunar New Year stock-up festival.
Alibaba.com has announced the launch of its first Southeast Asia Lunar New Year stock-up festival.
The festival, which is ongoing and will run through January 29, 2024, offers a variety of discounts and promotions to help business buyers prepare for the upcoming Lunar New Year rush.
The festival is designed to tackle a key challenge for small and medium-sized enterprises (SMEs) in Southeast Asia by providing a convenient and affordable way to stock up on the products they need to meet the increased shopping demand during the Lunar New Year Holiday. Alibaba.com’s logistics subsidies, a part of the campaign offerings, mean over 60 per cent of shipments to Vietnamese buyers can be shipped for free, enabling businesses to increase profits while catering to holiday demand.
“We are excited to launch our first Southeast Asia Lunar New Year Stock-Up Festival,” said Liz Wang, CMO of Alibaba.com. “This festival is a great opportunity for businesses in the region to source more effectively and boost their sales during the Lunar New Year Holiday. In particular, it is a rare opportunity for Vietnamese buyers to stock up on the products they need at a high value for money.”
The holiday unleashes a shopping surge across Southeast Asia, and this year is no exception. Alibaba.com data reveals traffic from the region is soaring over 50 per cent in December (through December 20) compared to October. Additionally, since November, Alibaba.com’s app downloads in Southeast Asian countries have climbed steadily. Notably, the app consistently ranks among the top three shopping apps in Việt Nam on Android’s App Store. This trend paints a clear picture: demand for B2B products and services in the region is booming as Lunar New Year approaches.
Alibaba.com insights also reveal the top five product categories with high growth potential: Perfume & Fragrance, Pet Food, Hand Tools, Festive & Party Supplies, and Camping and Hiking.
“We encourage businesses to take advantage of the promotions available during B2B sourcing campaigns to maximise their retail margin,” said Mike Zhang Head of Việt Nam Business at Alibaba.com. “Alibaba.com is committed to providing businesses with the tools and resources they need to succeed during and beyond the Lunar New Year season.” — VNS
