Tuesday , July 27 2021

Alibaba passed Singles Day record, but slowed growth

Shortly before midnight by the Chinese time, the company sent more than a billion packages. In the first 85 seconds, Alibaba spent a billion dollars and almost ten billion dollars in the first hour. Last year's record fell less than 16 hours. However, according to an analyst, App Annie is expected to be $ 32 billion this year with Jack Money's billionaire initiative. A growth rate of 39 percent compared to the same period of the previous year fell to 39 percent, which was the weakest in the 10-year history of this artificially created holiday.

Oliver Wyman's analyst Pedro Yip told Reuters, "With the growing number of promotions throughout the year, consumers no longer feel that Double 11 is the only opportunity." At the beginning of the month, Alibaba lowered its sales forecast for this year's financial year. At the end of March 2019, it sold 383 billion yuan of 375 billion tons. In addition to other Chinese companies, the US-China work accident is according to Reuters.

On Saturday evening, American singer Mariah Carey, the Japanese beyoncé imitator and the Cirque du Soleil in Cirque du Soleil, launched a ceremony to exchange shoes for the Circus du Soleil. The aim of Alibaby was to create a contradiction with the romance of Valentine's Day. According to the BBC, the BBC managed to do so. Singles Day, the world's largest online shopping event and last year, according to Bloomberg, the world's leading Black Friday and more successful than Cyber ​​Monday.

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