Page 11 - THE SOUTH CHINA BUSINESS JOURNAL
P. 11
n half of what was spent on Alibaba staff briefing on the live
Singles Day. sales volumne on Singles Day
[Image from Xinhua]
Alibaba said its platforms sold
goods worth $38.4 billion on Single’s has grown rapidly in China because of a lack of
Day this year, easily cruising past the traditional retailing networks and government
company’s last year’s record breaking efforts to promote internet use. The country has
$30. 7 billion haul. Electronics 800 million people online. Chinese online spending
gadgets, shoes, cosmetics, and is growing faster than total retail sales but also is
fashion items were among the weakening as the economy slows. Growth declined
biggest sellers in the 11th edition of to a multi-decade low of 6 percent over a year earlier
the Singles’ Day annual event. in the quarter ending in September.
Other Chinese e-commerce Even though overall sales have reached record highs,
platforms like JD.com and regular the event’s annual growth rate has gradually slowed
brick-and-mortar stores also take over the years, falling from 63 percent in 2014 to 26
part, and the event is starting percent in 2019, as weaker sales and the US-China trade
to gain traction outside China. conflict weigh on the Chinese economy.
Alibaba's Southeast Asia subsidiary
Lazada offers Singles Day discounts This year’s Singles’ Day shopping festival has
in Singapore, Malaysia, Indonesia, produced positive political undertones amid the US-
Thailand and Vietnam. Brands China trade war. Reactive tariffs since last July have
like Nike and Brooks Brothers are made US products more expensive. Furthermore, the
offering Singles Day discounts on US-China political rivalry has spurred patriotism in
their US websites. The Singles Day China. Many US brands worried they would take a hit
event in China, however, is by far on a day that last year accounted for about 4 percent of
the splashiest. Alibaba’s full year GMV. Yet a number of US companies
did remarkably well. The US ranked as the second
The eye-popping numbers biggest product source. The event pulled in a number
reflect the changing times since of US celebrities, including reality star Kim Kardashian
the company invented the retail and pop star Taylor Swift, who appeared at Alibaba’s
event a decade ago. E-commerce televised countdown. American food and beverage
companies like Starbucks, KFC and Burger King also
saw their sales on Ele.me, a food delivery platform
owned by Alibaba, surpass the companies’ full-day 2018
figures less than two hours into the shopping festival.
South China Business Journal 8
Singles Day. sales volumne on Singles Day
[Image from Xinhua]
Alibaba said its platforms sold
goods worth $38.4 billion on Single’s has grown rapidly in China because of a lack of
Day this year, easily cruising past the traditional retailing networks and government
company’s last year’s record breaking efforts to promote internet use. The country has
$30. 7 billion haul. Electronics 800 million people online. Chinese online spending
gadgets, shoes, cosmetics, and is growing faster than total retail sales but also is
fashion items were among the weakening as the economy slows. Growth declined
biggest sellers in the 11th edition of to a multi-decade low of 6 percent over a year earlier
the Singles’ Day annual event. in the quarter ending in September.
Other Chinese e-commerce Even though overall sales have reached record highs,
platforms like JD.com and regular the event’s annual growth rate has gradually slowed
brick-and-mortar stores also take over the years, falling from 63 percent in 2014 to 26
part, and the event is starting percent in 2019, as weaker sales and the US-China trade
to gain traction outside China. conflict weigh on the Chinese economy.
Alibaba's Southeast Asia subsidiary
Lazada offers Singles Day discounts This year’s Singles’ Day shopping festival has
in Singapore, Malaysia, Indonesia, produced positive political undertones amid the US-
Thailand and Vietnam. Brands China trade war. Reactive tariffs since last July have
like Nike and Brooks Brothers are made US products more expensive. Furthermore, the
offering Singles Day discounts on US-China political rivalry has spurred patriotism in
their US websites. The Singles Day China. Many US brands worried they would take a hit
event in China, however, is by far on a day that last year accounted for about 4 percent of
the splashiest. Alibaba’s full year GMV. Yet a number of US companies
did remarkably well. The US ranked as the second
The eye-popping numbers biggest product source. The event pulled in a number
reflect the changing times since of US celebrities, including reality star Kim Kardashian
the company invented the retail and pop star Taylor Swift, who appeared at Alibaba’s
event a decade ago. E-commerce televised countdown. American food and beverage
companies like Starbucks, KFC and Burger King also
saw their sales on Ele.me, a food delivery platform
owned by Alibaba, surpass the companies’ full-day 2018
figures less than two hours into the shopping festival.
South China Business Journal 8
