China’s Alibaba, JD report booming Singles Day sales

  • “Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day
  • Alibaba said sales by merchants on its platforms totaled 221.6 billion yuan ($31.7 billion) by 6 p.m., passing last year’s total of $30.8 billion.
  • Online sales of goods rose 16.8% over a year earlier in the first nine months of 2019 to 5.8 trillion yuan ($825 billion)
  • E-commerce made up 19.5% of Chinese consumer spending, compared with about 11% of spending for American consumers.”

https://www.google.com/amp/www.chicagotribune.com/business/sns-bc-as–china-singles-day-20191111-story.html%3foutputType=amp

It’s Time for Alibaba to Slay the Monster Jack Ma Created

  • “The Nov. 11 annual event, which has been going for a decade, started as a marketing gimmick for an upstart e-commerce company looking to draw a crowd. And it did. 
  • GMV (gross merchandise value) grew more than 4,000 times between 2009 and 2018, hitting $30.8 billion last year
  • Alibaba doesn’t want to be just an e-commerce company anymore. Zhang, who has risen through the ranks and took over as chairman from Ma two months ago, is hoping to lean more heavily on new businesses such as cloud computing, digital media and entertainment, offline retail, and local services such as deliveries.”

https://www.google.com/amp/s/www.bloomberg.com/amp/opinion/articles/2019-11-10/alibaba-should-scrap-singles-day-to-move-beyond-jack-ma

Photographer: STR/AFP/Getty Images


Daniel Zhang

CEO of Alibaba Group

http://linkedin.com/in/daniel-zhang-498211120


Will Alibaba break its own record this 11.11 global shopping fest? And where is Jack Ma?

  • Billed as the world’s largest 24-hour online shopping event in terms of GMV, the 11.11 event has over 200,000 brands participating with more than a million new products on offer. Over 500 million users are expected to participate in this year’s festival – about 100 million more than last year.
  • Black Friday weekend had reportedly generated a total of $14.05 billion in online sales for 4,500 US online retailers over four days.
  • During India’s Diwali online shopping festival, sales split the e-tailer market share between Amazon India and Flipkart. Their combined market share was 90 percent in terms of merchandise volume, with Flipkart leading at 60-62 percent and Amazon India coming in at 28-30 percent.

https://www.google.com/amp/s/yourstory.com/2019/11/alibaba-11-11-2019-singles-day-ecommerce-sales/amp

From $100 million in 2009 to 250 times that in 2017, $25 billion

The global retail market is adjusting to China’s rising economic power, and Chinese customers’ desire for AI-enhanced mobile shopping experiences. Singles Day’s spread across the world suggests a new chapter of computer-enhanced shopping experiences is beginning.

Alibaba, the giant Chinese e-retailer that promoted the day as an opportunity – or excuse – for single people to treat themselves with new purchases, has seen its revenues on Nov. 11 grow from US$100 million in 2009 to 250 times that in 2017, $25 billion. And that was only two-thirds of total online sales that day.

Singles Day dwarfs the three other largest online retail mega-events. In 2017, Thanksgiving weekend online sales – including Black Friday and Cyber Monday– totaled $7.3 billion. The third, Amazon’s Prime Day, in 2017 took in $100 million an hour – but Alibaba raked in 10 times that amount on Singles Day that year.”

https://www.google.com/amp/s/theconversation.com/amp/singles-day-shows-chinas-global-retail-power-103125

Alibaba – Robots handled 95% of customer service inquiries

“Trademarked by Alibaba in 2009, Single’s Day – 11th November – has grown into the world’s largest online shopping event. With record sales year-on-year, particularly in Southeast Asia, the seasonality of the day reportedly resulted in a 191% spike in sales for Lazada, an eCommerce platform owned by Alibaba.

“Data-driven personalization drove additional product discovery,” said Mense. “Alibaba’s AI-powered customer service robot handled 95% of customer service inquiries.”

https://brandinginasia.com/drive-sales-on-singles-day/