RapNet


Rapaport News

 

Retail

 
Rapaport Broadcast
Martin Rapaport Addresses Israel Diamond Week
February 12 2020

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Mobile Drives Singles’ Day Sales Beyond $25B

E-commerce group sees 39% increase from 11/11 last year.
Nov 13, 2017 5:13 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Shoppers bought $25.3 billion worth of merchandise through e-commerce platform Alibaba during Singles’ Day, the China-based company reported Sunday.

The figures marked a 39% increase over last year’s numbers for the Chinese shopping holiday, which falls out each year on November 11 — hence its alternative title, the 11/11 Global Shopping Festival. In the first two hours alone, Alibaba recorded $12 billion in purchases via its Alipay system.

Mobile transactions accounted for 90% of the day’s total sum, the company noted, compared with 82% last year. More than 140,000 brands and merchants participated in the sales event, Alibaba added.

Singles’ Day has been part of the Chinese retail calendar since 2009. The event, which has drawn comparisons to Black Friday and Cyber Monday in the US, reportedly began as a celebration of singlehood.

“More than $25 billion...in one day is not just a sales figure,” said Alibaba Group CEO Daniel Zhang. “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”
Tags: 11/11, 11/11 Global Shopping Festival, alibaba, Alipay, black friday, cyber monday, Daniel Zhang, e-commerce, November 11, Rapaport News, retail, Singles’ Day
Similar Articles
ForevermarkForevermark Optimistic About Market Recovery
May 27, 2020
Sales at Forevermark’s stores in China have recovered strongly since the...
US Jewelry Stores Begin Reopening
JBT Appoints New Chairman
Swarovski Hires First Creative Director
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us