Expanding in overseas markets remains an uphill battle for many Chinese companies who often struggle from a lack of brand recognition and some consumers’ misgivings about the ‘Made in China’ label. However, Chinese brands are more global today than they ever have been. Between 2011 and 2017, the number of Chinese companies in the Fortune Global 500 jumped from 61 to 109 and three of the top five are now Chinese.
Ever since its IPO in 2014 – the largest in history – the trajectory of one Chinese company in particular, Alibaba, has captured headlines around the world. Having changed the face of e-commerce in China, its sales and profits now exceed those of Walmart, eBay, and Amazon combined. With its sights firmly set on becoming China’s first truly global company, here are 3 things Alibaba is doing to achieve this goal.
The 2018 Winter Olympics in Pyeongchang saw the launch of a decade-long sponsorship deal between the International Olympic Committee and Alibaba. By becoming an official sponsor of the Olympic Games until 2028, which spans three Summer and three Winter Games, Alibaba intends that exposure to the billions of viewers to transform its brand into a household name in every country. That its pavilion at the 2018 Games stood alongside those of Coca Cola and Samsung, two instantly recognizable brands, should reveal more than a little of Alibaba’s grand aspirations.
When it was founded Alibaba was a small online marketplace, but it has risen rapidly to become a market leader in the fields of e-commerce, cloud computing, retail and AI. Diversification and innovation have therefore always been central to the company’s success. Recognizing the importance of R&D investment in the future development of the company, in October 2017, Alibaba announced that $15 billion would be spent on a global research program specializing in data intelligence, Internet of Things and financial technologies. This research commitment, which will see labs built in China, the US, Russia, Singapore and Israel, epitomizes Alibaba’s goal of reaching parity with the likes of Google.
Think on a global scale
In a stroke of genius, Alibaba took Singles’ Day, a holiday in China where people celebrate being single, and rather cleverly turned it into the world’s largest day of shopping. In 2017, over the course of 24 hours, $25 billion was generated with 256,000 transactions taking place each second, involving shoppers from 225 countries and regions. To reflect its international nature and huge future global potential, Alibaba renamed the event “11.11 Global Shopping Festival”, with CEO Daniel Zhang saying of the event, “We want to make Singles’ Day a more global event. We could take the gala overseas very soon.” If it does, Alibaba may become a household name in no time.
Building a trusted brand with CSOFT
With the help of CSOFT’s expert marketing content creators and technical writers in the Global Communications team, Alibaba is becoming a trusted global brand. CSOFT provides English, French, Spanish, Portuguese and Russian marketing material to develop the Alibababa.com and AliExpress.com platforms. To ensure the best possible user experience with AliCloud, CSOFT’s writers are creating technical documentation and testing the user interface.
Author: William Simpson, Global Communications, Shanghai
CSOFT Global Communications
CSOFT’s Global Communications team specializes in creating top-quality content written directly in target languages. Our unique team of native speakers consists of experts from a broad range of disciplines including marketing, journalism, PR, telecommunications, computing, life sciences, and design. By only employing highly-experienced content specialists native to your target markets, we ensure your brand’s message is effectively communicated to all customers around the world.