Alibaba's digital marketing tool, Quanzhantui, significantly boosted merchant sales during Singles' Day, helping support 1.3 million products and driving noteworthy growth in gross merchandise value.
The tool, launched to assist merchants during competitive events like Singles' Day, resulted in a 66% increase in the gross merchandise value compared to the previous day.
With a focus on revenue growth, Alibaba introduced Quanzhantui alongside a new technology service fee, marking its strategy to enhance monetization efforts significantly.
Despite a 4% increase in topline revenue during the fiscal first quarter, Alibaba's results fell short of estimates, highlighting ongoing challenges amidst its growth ambitions.
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