Sixty-eight seconds spends the time that Chinese consumers spend their first billion dollars online at the traditional "Celebration of Singles" from Sunday to Monday.
This Asian holiday giant, Alibaba, is considered to be the largest global trading balance in the industry. At midnight, millions of consumers ran on their computers or mobile phones to take advantage of attractive discounts on a range of products, from electronics to apparel. shoes or furniture. Alibaba and other Chinese e-commerce groups have made a habit of making a discount every November 11th since 2009, calling it "Singles Day" because of the repetition of the "one" figure.
This shopping spree exceeds the value of "Black Friday" on Friday after Thanksgiving in the United States at the end of November. The Singles Festival, which is expected to have a strong purchasing power, is the biggest event in the distribution world.
7 billion yuan ($ 1 billion) was spent on 68 seconds in 7 seconds on Alibaba's only platform … a turning point in 85 seconds compared to last year. . This figure corresponds to the value of the total goods purchased on these platforms, including shipping costs. The 100 billion yuan (13 billion euros) mark passed exactly in one hour, 3 minutes and 59 seconds. Half of e-commerce in China.
The strength of purchases on November 11 is being studied by economists looking for clues to the soundness of the country's economy as a result of the US trade war launched by Donald Trump. Last year, the total turnover of November 11 reported by Alibaba was 213.5 billion yuan (27 billion euros) in sales within 24 hours.
This was a slowdown in growth from one year to another: turnover increased by only 27% in 2017 compared to + 39% compared to the previous year. According to Bloomberg on Friday, the newly retired eccentric billionaire Jack Ma hopes to increase US $ 15 billion in Hong Kong during an upcoming IPO.