China's Alibaba Sets New Singles' Day Sales Record With More Than Eight Hours To Go in 24-Hour Shopping Festival (scmp.com) 34
Alibaba Group surpassed last year's Singles' Day record with more than eight hours to go before the end of the 24-hour shopping festival, cementing its position as the world's biggest retail event and assuaging concerns that Chinese consumer sentiment is softening. From a report: The gross merchandise value surpassed last year's tally of 168.2 billion yuan ($25.3 billion) at 3:49 pm on Sunday. Also known as Double 11, the shopping extravaganza will draw to a close at midnight. Consumers spent a total of 168.5 billion yuan (US$24.3 billion) as of 3:53 pm. Sales were helped by the participation of Alibaba's Southeast Asia unit Lazada, as well as subsidiaries Ele.me, Koubei, supermarket chain Hema and other business units. The total gross merchandise volume (GMV) for this year's Singles' Day -- or the value of total transactions on the platform -- is keenly watched as a barometer of consumer spending and retail health in the world's second-biggest economy.
yep (Score:3, Interesting)
I actually did a spree during this. I've been annoyed with Amazon lately and decided to give it a try. I probably bought half the stuff that piled up in my "nice to have" wish list over the years...for about a third the price. Anything that I don't care if it's a knockoff went in.
I'll see how it goes. Given how much of Amazon is relisted Alibaba third party crap, probably I'll not be missing out on any quality in any case.
Re: (Score:2)
you keep cheap Chinese knockoff garbage on your "nice to have" wish list ??
Re: (Score:1)
I suppose I just don't share your passion for brand name carpet staplers.
A lesson to most of us in the west... (Score:5, Insightful)
with more than eight hours to go before the end of the 24-hour shopping festival, cementing its position as the world's biggest retail event and assuaging concerns that Chinese consumer sentiment is softening.
Lesson #1: There's a world out there beyond WalMart, Target and Amazon.
Lesson #2: The rest of the world seems to be doing just fine
Lesson #3: It's perhaps better to travel and "see" the world. We may be impressed.
Remembrance Day (Score:3)
It has been very weird to get multiple emails from Aliexpress unintentionally reminding me of the 100th anniversary of the end of World War I.
At least they didn't title them "Tomb of the Unknown Shopper", I guess.
Proof that Mega corporations (Score:2, Insightful)
24-hour shopping festival (Score:3)
Singles' Day sales! (Score:3)
Buy our stuff to try and fill that gaping void in your soul that has become endemic due to inheritance laws that have thrown the gender ratio completely out of wack!
Record sales? What an accomplishment. -_-