Singles Day 2018: China breaks shopping day world record | DW News


This year, Singles Day kicked off with a colorful
gala complete with excited fans, customers and a live tally of incoming sales. The 1-billion-dollar-mark fell after a mere
85 seconds. After an hour, sales had reached 10 billion
dollars. By the end of the day, revenue at online giant
Alibaba clocked in at 30.8 billion dollars – a new record. “‘Singles Day shopping festival has reached
its tenth year. It means not only discounts, but also appreciation. I want sellers to show their gratitude to
consumers with the best products and the best prices…” Among the sellers were many global players. Even Apple, which is usually unwilling to
do discounts. All in all, some 180,000 brands participated
in the consumer frenzy. Alibaba hopes even more companies will begin
participating — bringing even higher revenues. “To be honest, I have been wondering about
the future of Singles’ Day. Many people are asking me about this, too. I would like to say the future of Singles’
Day will see revenues of 200 billion renmimbi, and then we’ll make changes as we go along. I think we can bring it to 300 billion, 500
billion and even 1 trillion renmimbi.” The sky’s the limit. Though at the moment, feet should remain firmly
on the ground. With a general slowdown in the Chinese economy,
revenue growth has slowed from 40 percent last year to 27 percent this year.

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Comments

  1. I just rolling up comments and checking funny jokes … hahaha. What we suppose to do here in India ? every single day there is some good news from neighboring country China.

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