The ‘singles party’ in China, an online sales phenomenon that moves billions of dollars in one day

The unimaginable story of Imaad Zuberi, the ‘mercenary’ donor

Seen as "the individual with one of the best connections," Zuberi "bought" entry to highly effective individuals in change for hundreds of thousands. ...

Scandal in Belgium for an orgy with diplomats and a MEP in full quarantine

About 25 males participated. Though in that nation these sorts of events are allowed, now they violate the restrictions because of the coronavirus....

Egyptian mannequin arrested for posing with out permission disguised as pharaoh launched

The Egyptian prosecutor's workplace on Tuesday ordered the launch of egyptian mannequin, Salma al Shimy, arrested yesterday after posing as a pharaoh and "with...

The “Volga madman” acquired caught – police kidnapped a person suspected of being a serial killer

In public, he was generally known as the “Volga Madman,” however he additionally has a reputation and a career. Russian police stated on...

5 killed and a number of other injured by man who purposefully hit pedestrians in Trier

In line with the police, the 51-year-old man who killed no less than 5 individuals, together with a child, and injured a number of...

As every year, consumers turned to their cell phones and computers to order millions of products with prices for the floor. Only two platforms sold for more than $ 120 billion.

The “Singles Party”, the world’s biggest online trading event, sparked a shopping frenzy in China, bodes well for the Asian giant’s economic recovery.

As every year, November 11 pushes Chinese consumers to turn to their cell phones and computers to order millions of products with prices through the ground, from furniture to computer devices, clothing or food.

In China, the date (11/11), with as many 1s in a row, is considered conducive to singles consumption.

The Chinese postal company tried at least 675 million packages on Wednesday, 26% more than the previous year, according to the Xinhua news agency on Thursday.

In terms of turnover, it is difficult to compare the figures from one year to the other, as the two largest online commerce groups decided to bring the sales forward to November 1. So, the 24 hours of “Singles Day” became 10 days.

The behemoth Alibaba, who devised the event in 2009, announced that it had sold 498.2 billion yuan worth of merchandise on its various platforms since November 1 (68.3 billion euros), a figure 26% higher than in the same period last year.

Its competitor JD.com announced sales of 271.5 billion yuan (34,800 million euros).

Other consumers turned to other online trading platforms, such as Pinduoduo, which does not disclose its figures.

In addition, traditional commerce also reduces its products on November 11.

Many economists expected to see in billing figures confirmation of economic recovery, after the stoppage suffered at the beginning of the year as a result of the new coronavirus.

“We have benefited from a robust recovery in consumption in China,” Jiang Fan, president of Alibaba’s two retail platforms, Tmall and Taobao, said in a pleased statement.

Liu Yu, a worker from Beijing who did not hesitate to take advantage of the big discounts since early Wednesday.

“I stayed up until midnight to order the robot vacuum cleaner that I had my eye on for weeks,” he explained to AFP. “In principle, it cost more than 4,000 yuan but finally I got it for a little more than 2,000,” he said happily.

The good level of sales should ease the internet giants a bit, who are in the sights of the authorities.

Its shares sank on Wednesday on the Hong Kong Stock Exchange after the announcement of new regulations against anti-competitive practices in the digital sector, such as exclusivity clauses imposed by some groups.

Thus, having collapsed almost 10% on WednesdayAlibaba was up a modest 1.85% on Thursday in Hong Kong, while JD.com was up 7.67% after falling more than 9% the day before.

trending

Related Articles