Global Shopping Festival sale to be Alibaba's largest in terms of scale

Chinese trade portal giant Alibaba has launched Global Shopping Festival in Beijing that seek to offer consumers high-quality products, fast and reliable services, it said on Monday.

The 10th edition of the festival would be the largest-ever in terms of scale and reach and 500,000 items would be available for pre-order, as per a statement.

It said the festival demonstrated Alibaba's new retail strategy - the convergence of online and offline retail through technology.

"Over the last two years, we have pioneered the concept of 'New Retail' to accelerate the digital transformation of the offline. We are excited by the impressive results achieved to date," the statement quoted Alibaba Group CEO Daniel Zhang as saying.