This market is the world's biggest e-commerce event in China. China spends billions of yuan on purchases compared to CyberMonday in the United States online every 11 November. In this way, the Alibaba platform recorded record sales of 168 billion yuan (21.3 billion euros) in the first 16 hours.
According to Reuters data, most sales orders were recorded early on the market, and sales amounted to 69 billion yuan, an increase of 21% compared to the same period in 2017, selling 57 billion yuan.
Take advantage of this day to buy electronic products like Chinese smart phones and other devices. There are, however, a variety of e-commerce platforms, such as diapers and milk powder buyers. For example, in Alibaba, there are 180,000 brands participating in this year's Tek Singles Day, edition.
However, analysts say Alibaba's sales are more modest than in previous years. . Because there are more promotions throughout the year, consumers don't think this is the only opportunity for them to make good purchases, olduğun said Pedro Yip, partner of Oliver Wyman. Still, "there are more consumers on this day than consumers who like to shop, and they don't like doing it," he adds.
This is Alibaba's last n Singles Day ğ led by Jack Ma. Chinese manager announced that it will resign in September, 2019 in the same month. He will replace Daniel Zhang.
Singles Day was launched as a version of Valentine's Day for people without romantic partners by Chinese college students in the 1990s, and retailers announced promotions with the goal. attract young consumers.