Saturday, 24 March 2018
Latest news
Main » China's e-commerce giants set a new record for Single's Day

China's e-commerce giants set a new record for Single's Day

13 November 2017

According to the graphic, Singles Day, an annual shopping holiday in China created by Alibaba, drives $17.49 billion in sales, dwarfing Cyber Monday and Black Friday in the US.

Chinese e-commerce giant (JD) said Sunday that transaction volumes on its platform for the Singles' Day sales period grew more than 50 percent from past year to 127.1 billion yuan, or about $19.1 billion. Here the sales since the beginning of the week until the main event have been excluded.

The world's biggest online shopping event, held on November 11th of each year as a celebration among young people who are proud of being single, posted a 39 percent jump in sales, exceeding Citigroup Inc. estimates and defying concerns of an economic slowdown, the report said.

Trump meets Rody: See you in Manila
Roque said the two leaders, who previously had two phone exchanges, appeared "genuinely pleased to have finally met in person". James McGovern and Republican Rep. "You f**k with my countrymen, I won't let you off the hook".

Alibaba often pays celebrities to promote the day, with Nicole Kidman, Pharrell Williams and Maria Sharapova appearing on stage in Shanghai this year to perform in a televised gala.

China is a major target for most global marketers, not least because it represents still a significant growth opportunity, averaging seven per cent GDP growth per year and with the total spending power of middle class growing even faster. The Wall Street Journal reported that last year's total had already been beaten by 1pm on Sunday, just 13 hours after it had begun.

In the end, Singles Day - now dubbed 11/11 - was only about 10% of total GMV in the last fiscal quarter of 2016, Raymond James analysts note.

Tekken 7's next DLC fighter is Noctis from Final Fantasy XV
For the second time in the span of a few days, a surprising guest character is making their way into a popular fighting game. He brings a Final Fantasy 15 stage along with him, and a bunch of flashy moves any Final Fantasy fan is sure to love.

"168.2 billion yuan sales is not only a record in China, but also a record worldwide", said Alibaba chief executive Daniel Zhang Yong. Indeed, during the busiest periods, the company registered 256,000 transactions per second.

When compared to previous years sales it has been a rise in 40%.

Other e-commerce companies also cut prices, but the event is closely associated with Alibaba. The now largest e-commerce sale day by volume closed with a new record 45 billion dollars in online shopping.

Nazanin Zaghari-Ratcliffe: Gove under fire for comments
The British citizen said she has had to wait for months for a second opinion from an outside specialist. She is being held amid claims she was attempting to topple the regime. "He's a good Foreign Secretary".

China's e-commerce giants set a new record for Single's Day