Chinese shopping festival, Singles Day has raked in record sales once again despite of the global power and supply chain crises.
Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, The firm said 540.3 billion yuan (US$84.5 billion) was spent as China’s army of consumers went on a splurge. Sales rose by 8.5%, compared to the previous year.
Combined sales with industry rival JD.com came in at 889 billion yuan (US$139.4 billion) — equivalent to the GDP of many countries — which was also a record and up about a fifth from last year.
Both Alibaba and JD.com reported strong sales of items such as electric appliances, electronics, pet supplies, and cosmetics and other personal-care goods.
"Single Day" — so-called for the 11.11 date — began more than a decade ago and for years was a one-day, 24-hour event on November 11. But industry players expanded it recently into an extended promotion from November 1-11, with many retailers and platforms offering discounts and pre-sales even earlier.
Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, The firm said 540.3 billion yuan (US$84.5 billion) was spent as China’s army of consumers went on a splurge. Sales rose by 8.5%, compared to the previous year.
Combined sales with industry rival JD.com came in at 889 billion yuan (US$139.4 billion) — equivalent to the GDP of many countries — which was also a record and up about a fifth from last year.
Both Alibaba and JD.com reported strong sales of items such as electric appliances, electronics, pet supplies, and cosmetics and other personal-care goods.
"Single Day" — so-called for the 11.11 date — began more than a decade ago and for years was a one-day, 24-hour event on November 11. But industry players expanded it recently into an extended promotion from November 1-11, with many retailers and platforms offering discounts and pre-sales even earlier.
