Alibaba Singles Day Sale Breaks Record With $25B USD Sold
12 November, 2017, 01:57 | Author: Pamela Mathis
Chinese online shopping giant Alibaba (Berlin: AHLA.BE - news) says it took in almost 20bn yuan (£2.1bn) in sales in a matter of minutes at the opening of its Singles' Day annual discount sale extravaganza. These sales were added towards the total sales for Singles' Day. The day of shopping brings in more sales than Black Friday and Cyber Monday combined in the US.
Alibaba's platforms saw a billion dollars in sales volume hit in just two minutes.
Joe Tsai, co-founder and vice-chairman of Alibaba Group, told 700 reporters from all over the world in Shanghai that a total of 140,000 brands are taking part this year, up 40 per cent from last year.
Just a little past halfway through the day Alibaba crossed last year's GMV (gross merchandise value) of $17.7 billion. Alibaba created the 11.11 event as "Singles Day" back in 2009.
This year, Nicole Kidman and Pharrell Williams were among the guests.
Couriers and robots are expected to deliver an estimated 1.5 billion parcels over the next six days. It takes its name from the way Nov 11 is written numerically as 11/11, which resembles "bare branches", a Chinese expression for the unattached.
The yearly display of rising Chinese consumer spending power has become a key date for manufacturers and retailers in the country, accounting for a significant share of annual orders for many businesses.
A decade ago, November 11th was a tongue-in-cheek cultural "celebration" of single people in China.
The company has converted about 100,000 retail stores to "smart stores", which will allow consumers to receive tailored shopping experience with the use of facial recognition, "cloud shelf" and location-based store and discount recommendations among others.
Greenpeace said "Singles Day" deliveries past year resulted in 130,000 metric tons (143,000 short tons) of packaging waste in what it called a "disaster for the environment".
It is a reminder for Malaysians of the recently-launched Digital Free Trade Zone (DFTZ) in Sepang, Selangor, one that is touted to achieve similar success to Alibaba and 11.11, but with Malaysian small-medium enterprises (SMEs).
EU commissioner Pierre Moscovici said: "After five years of moderate recovery, European growth has now accelerated". The gap is seen declining to 0.9% next year, down from the previous estimate of 1.3%, and to 0.8% in 2019.
After years in steady decline, the iPad has bounced back to post year-on-year growth in the last couple of quarters. Apple allegedly still sees the iPad as the future of mainstream computing and continues investment in the series.
Moyes' first match in charge will come after the worldwide break, a trip to Watford in the Premier League on November 19. The Scot has been out of work since failing to keep Sunderland in the top flight last season.
Ahead of the launch, the company has on its own volition revealed quite a lot about the upcoming device, to be called OnePlus 5T. Since the company won't be bringing wireless charging on OnePlus 5T, it is expected to arrive with a metallic body.
Mr Spacey and surrogates have not specifically addressed any other allegations since Mr Spacey responded to Mr Rapp's accusation. She said the violation continued with Spacey insisting that her son join him at a private party. "Right now, my son is anxious ".
Fans won't have to wait long to see Johnson's take on the universe, as The Last Jedi hits theaters on December 16. Such a massive and lucrative undertaking would surely go beyond the basic idea of a new trilogy.
The receiver will then pop up a window asking the permission to connect and once you are there, you can now share files offline. You can install the app through the available file on any of your devices running Android 5.0 and above.
We'd suggest avoiding these areas until Trump's visit ends Friday (November 10). "It's exciting, as well", she added. Later, she greeted a group of schoolchildren and handed over stuffed toy eagles to them.
If you owned a smartphone in the summer of 2016, chances are you were sucked into Pokémon Go for some amount of time . An augmented reality game allowing the Wizarding World of Harry Potter to merge with our humble reality.
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