Sunday , June 13 2021

The Chinese version of CyberMonday is worth recording to Alibaba

This Sunday is the "Singles Day" in China, the largest e-commerce event in the world. Comparable with CyberMonday in the United States, Chinese spend millions of yuan in purchases online every November 11th. The Alibaba platform, thanks to this, recorded registered sales of 168 million yuan (21.300 million euros) during the first 16 hours of sales.

Most sales orders were soon registered at the first hours of Sunday, representing 69 million yuan, 21% more than in the same period of 2017: sales of 57 million yuan, according to Reuters.

The Chinese take advantage of this day to buy electronic products such as smartphones and other devices. But there are some who buy, for example, diapers and milk powder, thanks to the great diversity of e-commerce platforms. In Alibaba, for example, there are 180,000 brands that participate in this year's edition of "Day of Single."

The analysts indicate that the growth of the sales of Alibaba is more modest than in previous years. "As there are more promotions throughout the year, consumers no longer feel this is the only opportunity to shop," said Pedro Yip, a member of Oliver Wyman. Even so, "there are more consumers who enjoy purchases this day than those who do not like doing it," adds the expert.

This is Alibaba's last "Day of Single" under the direction of Jack Ma. The Chinese manager announced in September that he will leave the same month in 2019. He will be replaced by Daniel Zhang.

The Unmarried Day was started by Chinese university students in the 1990s as a Valentine's Day version for people without romantic partners, they have become a "commercial event" online, and traders have announced promotions with the aim of attracting new consumers.

Source link