Singles Day achieves new sales record. Chinese consumers shrugged off any concerns over a slowing economy by snapping up goods and services from home and abroad during the Singles Day online shopping gala, which falls on Nov 11 each year.
And the one-day annual buying frenzy broke last year's record.The 24-hour shopping flurry, which is celebrating its 10th year, is the latest exemplification of how domestic consumption is increasingly becoming a major economic growth driver and is unlikely to be overshadowed by temporary trade frictions, experts said.
From discounts to real shopping experience. Started during the infancy of e-commerce business in China, Singles' Day has played a significant role in promoting online shopping. But Singles' Day has become more like an online carnival today, which doesn't influence online shopping as in the past, because consumers nowadays buy anything online whenever they want. However, one thing is different: e-commerce has already covered many rural areas, which can play a vital role in promoting the integrative development of urban and rural areas.
China's online shopping binge predicts to smash over $30b. Sales of China's biggest online shopping festival is projected to hit over $32 billion this year, according to a report released by the global app market data provider App Annie.
App Annie also forecasted that the shopping frenzy will break the world record in mobile e-commerce sales.
Singles Day enlivens overseas commerce. Overseas retailers racked up big sales on Alibaba's Singles Day shopping festival. The e-commerce giant said 3,700 categories representing 180,000 overseas brands from 75 countries and regions were featured during the shopping extravaganza.
US vendors pay no mind to tariffs, enjoy Singles Day. The ongoing trade dispute with China did not deter American merchants from participating in Alibaba’s Singles Day global shopping festival. According to Alibaba, 3,700 categories representing 180,000 foreign brands from 75 countries and regions were featured in the shopping extravaganza. More than 10,000 of those brands were American.
Delivery orders jump 25.12% to 1.35b on Singles Day. Major e-commerce giants received 1.35 billion delivery orders, a 25.12 percent rise, on Nov 11, or Singles Day, a Black Friday-like shopping festival in China, according to the State Post Bureau. Postal and express delivery firms processed 416 million orders on Sunday, up 25.68 percent and set a new historical record.
