Baidu’s Singles’ Day Advertising Revenue Surges 120% during China’s Online Shopping Spree
November 15 2017 - 6:51AM
Baidu, Inc. (NASDAQ:BIDU), the leading Chinese language Internet
search provider, today announced that this year’s Singles’ Day
advertising revenue increased by 120% compared to last year, buoyed
by record-breaking sales by Chinese consumers during the biggest
annual shopping festival in China on November 11.
“The active participation of merchants from a
larger variety of industries such as beauty, food and beverage,
education and housekeeping services during Singles’ Day was a
win-win situation for Baidu, the merchants, consumers and
e-commerce platforms,” said Alex Cheng, Baidu’s Vice President and
Chief Technology Officer of Baidu Search.
In advance of this year’s Singles’ Day shopping
festival, Baidu prepared by connecting to customers’ databases in
order to better understand online users’ needs. Learning users’
preferences ahead of the day, the Baidu platform was able to better
fulfill their needs through data matching. The significant growth
in advertising revenue was also bolstered by the increased use of
display advertising.
“As a media platform for online marketing
customers, the most important thing for Baidu is matching online
users with our customer base. Online users can find the exact
services and products they need on Baidu, while customers can reach
out to highly targeted sets of users. Baidu is a hugely valuable
platform as we can fulfill users’ needs at the same time as
supporting the business success of our marketing customers,” he
added.
As China’s largest search engine, Baidu has a
significant competitive advantage in online traffic. Baidu’s
technology strengths are also an advantage for marketing strategies
as the company is able to use its big data and artificial
intelligence (AI) technologies to provide accurately targeted
ads.
Baidu's strategic pillars are to strengthen its
mobile foundation and lead in AI. Baidu is leveraging its AI
technology to strengthen its core products including search –
enabling a more natural search experience via voice and images as
inputs, increasing the coverage of rich content, and creating more
accurate and detailed user profiling.
Singles’ Day takes place on November 11 every
year and is the biggest shopping festival in China with Chinese
consumers spending billions of dollars buying online. Chinese
e-commerce company Alibaba Inc. announced that this year’s Singles’
Day gross merchandise volume reached a record RMB168.2 billion
(USD25 billion), while another e-commerce platform JD.com reported
RMB127.1 billion (USD19 billion) in GMV.
About BaiduBaidu, Inc. is the
leading Chinese language Internet search provider. Baidu aims to
make a complicated world simpler for users and enterprises through
technology. Baidu’s ADSs trade on the NASDAQ Global Select Market
under the symbol “BIDU.” Currently, ten ADSs represent one Class A
ordinary share.
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