Alibaba Group Holding has made progress in the use of its digital marketing tool Quanzhantui. The tool enhances monetization for its Taobao and Tmall marketplaces six months after the product launch. Quanzhantui is part of Alibaba’s domestic e-commerce unit under the Taobao and Tmall Group (TTG).
The AI-powered tool became fully available to sellers in August. It played a key role during Alibaba’s recent Singles’ Day promotion. This event is known as the world’s largest online shopping festival.
Singles’ Day sales boost
Eddie Liu is the head of marketing and branding business at Alimama, TTG’s digital marketing platform. He reported that Quanzhantui served over 250,000 merchants and more than 1.3 million products on the first day of the Singles’ Day event.
Liu highlighted that the tool helped merchants achieve an average 66 per cent increase in gross merchandise value (GMV) compared to the previous day. The introduction of Quanzhantui aligns with Alibaba’s broader strategy. The company aims to enhance revenue on its platforms amidst a slowing domestic economy and heightened competition in the e-commerce sector.
The progress shared by Alibaba reflects the company’s ongoing efforts. Alibaba seeks to solidify its position in the market and drive growth through innovative digital solutions.
