November 11th 2019 Singles' Day

26-11-2019
November 11th 2019 Singles' Day Closing curtain, a total turnover of 268.4 billion yuan,Let the world marvel at the strength of the Chinese economy and the power of new consumption.

Singles' Day has also evolved from a day of massive sales to one that merges both consumption and entertainment. 

It took only 63 minutes and 59 seconds for Alibaba's sales for its annual Singles’ Day shopping blitz to hit 100 billion yuan ($14.3 billion). The first billion yuan was spent in the first 68 seconds.

The Reuters news agency points out that $1 billion worth of goods sold in 1 minute and 8 seconds.

China's one-day festival of consumption is likely to eclipse Thanksgiving, Black Friday and Cyber Monday — combined. Singles' Day is much bigger, not only the total turnover, but also the vitality injected into offline retail, as well as the leading technological capabilities

American companies are also getting in on the act. Nearly a quarter of US retailers plan to run promotions for Singles Day, according to Adobe, which surveyed more than 400 US retailers with annual sales in excess of $500,000.

        Alibaba, stung by criticism it harmed the environment by shipping an estimated 1 billion packages in a single day — has enjoined its logistics arm Cainiao to set up recycling centers at 75,000 locations. It says it will also work with courier companies to pick up used boxes and wrapping.

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