jh-siesta.com
jh-siesta.com December 11, 2017


China to celebrate Singles' Day with whopping shopping spree

12 November 2017, 12:52 | Sammy Green

Singles' Day: Alibaba World's Largest Online Shopping Event

The Singles Day Sales start tomorrow

Singles' Day, then, appears to be celebrating a marriage after all-one of cyberspace and reality.

Even when putting together all the biggest USA shopping holidays, Black Friday, Thanksgiving, Cyber Monday, and Amazon's Prime Day-sales from Chinese e-commerce giant Alibaba's Singles' Day still come on top, according to data compiled by Fung Global Retail & Tech.

November 11 has been celebrated as China's Single's Day since the 1990s.

39% Growth really is staggering, global ecommerce grew 24.6% in 2016 so Alibaba's Singles' Day sales are far outpacing any metric you care to name.

Alibaba rivals such as JD.com also reported brisk business.

As the clock ticks to midnight, the regular Ali, Ah Chong and Muthu will be scrambling to click on the button of that famous online shopping boutique for the planet's biggest online shopping fest, Alibaba's "11.11 Singles" Day'.

This year, 140,000 different merchants took part in the event, including many worldwide brands like Tampax and Asos.


The yearly display of rising Chinese consumer spending power has become a key date for manufacturers and retailers in the country, accounting for a significant share of annual orders for many businesses.

More than 90 percent of orders were placed via mobile, the majority of which on Alibaba's main e-commerce platform Taobao.com (淘寶).

Alibaba said that five minutes after midnight Alipay was processing 2,56,000 payment transactions per second, doubling last year's high-water mark. The day of shopping brings in more sales than Black Friday and Cyber Monday combined in the US.

But environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste.

It said e-commerce is actually more carbon-intensive than brick-and-mortar shopping, calling "Singles Day" a "disaster for the environment". It already has a substantial stake in Lazada, an online retailer in South-east Asia and recently launched an electronic trading hub in Malaysia. Alibaba has not only transformed consumer behavior in China, but merchant behavior as well.

This year, the world awaits whether it will break records again and reverberate throughout the world's e-commerce landscape.



Other News

Trending Now

One dead at University of Utah shooting, police search for suspect
He was also wanted for questioning in the death of a 63-year-old man whose body was found in a trailer in Golden, Colorado. Authorities searched the University of Utah campus and the nearby mountains, but called off the searches on Tuesday.

Deshaun Watson done for the season with ACL tear
He was tied for the league lead with 19 touchdown passes and had gained almost 2,000 total yards (1,699 passing and 269 rushing). Earlier Thursday he was named the NFL Offensive Rookie of the Month and the AFC Offensive Player of the Month for October.

Iran: Thousands march on 1979 anniversary, chant anti-Israel, anti-US slogans
The U.S. cut its diplomatic relations with Iran after the embassy takeover and has had no diplomatic relations since. During a rally on Saturday, Ali Shamkhani, secretary of Iran's Supreme National Security Council, criticized U.S.

Puerto Rico governor says contract to Whitefish company should be canceled
But the industry plan may conflict with the goals of the federal control board that oversees Puerto Rico's troubled finances. On Thursday, the House Committee on Energy and Commerce requested documents related to the contract from Whitefish.

Gender gap report: Equal pay now 217 years away
But it continues to lag behind in economic participation and opportunities for women in particular. Women across the world are still, on average, earning less than men by a large amount.

Hulu is now available on Nintendo Switch
Teased earlier this week and confirmed by the company itself , Hulu is now available on the Nintendo eShop for download. Nintendo debuted the Switch - a hybrid console that can be connected to a TV or used as a mobile device - in March 2017.

Look Back at Selena Gomez and The Weeknd's Short-Lived Romance!
Now, a source tells E! People also reports that " Justin is aware Selena's family is not thrilled they are hanging out". Before then, Justin reportedly stopped by Selena's house in Los Angeles and didn't leave until well after midnight.

UP: 9 dead, many injured in blast at thermal power plant
District Magistrate Sanjay Kumar Khatri said 40 ambulances were immediately pressed into service. NTPC is India's largest power utility and the plant in Uttar Pradesh is among its main units.

Apple Is Moving Forward on an Augmented Reality Headset
KitGuru Says: Given all of Tim Cook's gushing about Augmented Reality over the a year ago , this news isn't too surprising. We always thought that glasses were not a smart move, from a point of view that people would not really want to wear them.

Kelvin Benjamin Trade: Grading the Bills' Move at NFL Trade Deadline
Interim Carolina Panthers general manager Marty Hurney traded former first-round pick Kelvin Benjamin at the deadline. For the Panthers, they will now rely on younger pass-catchers in Devin Funchess and Curtis Samuel to get the job done.