Thursday, 23 November, 2017

Singles' Day Breaks Records for Alibaba, JD.com

JD.Com Inc. (ADR) (NASDAQ:JD), Alibaba Group Holding Ltd Witness China's Shopping Festival Smash Records $45 billion in sales: China's e-commerce giants set a new record for Single's Day
Jo Caldwell | 14 November, 2017, 00:36

Promoted by Chinese e-commerce giant Alibaba, which claimed more than a million retailers worldwide took part this year, including for the first time United States department store Macy's, each year on 11 November companies offer discounts on a range of products for a limited 24-hour period.

13 hours - the time it took Alibaba to surpass its last year's 18.1 billion sales record, as reported by the "South China Morning Post". The dollar figure was up more steeply due to the strength of the yuan against the greenback this year. Alibaba recorded over $25 billion in revenue during the event's peak on Saturday.

But like Amazon in the U.S., Alibaba has a strategy to integrate online shopping with brick-and-mortar stores, which still make up 85% of total retail sales, according to the company. "The Singles' Day Gala combined entertainment, shopping and interactive involvement and that is why it is such a unique success".

Shoppers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam ordered 6.5 million items, 191 per cent or almost double that of previous year, Lazada said in a media release on Monday (Nov 13).

She also adds that people did not even put so much thought into shopping as there was not much to buyIn those days, kids would consider themselves lucky if they got a set of new clothes once a year.

More news: United States beats Belarus to win its 18th Fed Cup title
More news: Magnitude 7.3 Earthquake Kills At Least 6 In Iraq, Injures 150
More news: Arctic blast breaks record low temps in NYC

The 11.11 shopping festival, also commonly referred to as Singles Day, began in 2009 with participation from just 27 merchants and was designed as event for merchants and consumers to raise awareness of the value in online shopping.

Tsai said rising disposable incomes of China's "over 300 million middle-class consumers" was helping drive the company's online sales - and would continue.

The e-commerce company saw sales rise 40% this year, an increase of $7.5bn on 2016.

Investors closely watch the headline number, though some analysts say the way it is calculated is too opaque.

The date of November 11 emerged as a counter-cultural antidote to the sentimentality of Valentine's Day. That investigation is as yet unresolved. The analyst writes, "While mobile was already a big driver of prior years' GMV growth, the percentage of Mobile GMV as a percentage of total GMV this year increased to 90%, versus 82% and 69% in 2016 and 2015, respectively". Billionaire founder Jack Ma is using it as a testing ground for his plans to revamp China's $4 trillion traditional retail sector with technology, an experiment that could help the behemoth gain an edge in China's saturated market.

Recommended

  • New accuser claims sexual assault by Moore in 1970s

    New accuser claims sexual assault by Moore in 1970s

    When the Post's story first broke last Thursday, McConnell had said Moore should step aside if the allegations were true . Losing the special election to a Democrat would imperil Republicans' already slim 52-48 majority.
    George Takei Accused of Sexually Assaulting Actor in 1981

    George Takei Accused of Sexually Assaulting Actor in 1981

    According to THR , Brunton's story was corroborated by four of his friends who recalled Brunton telling them about the incident. The following is upsetting to read, but important to pay attention to, if you are able.
    Visitors to Disneyland California hit by Legionnaires disease

    Visitors to Disneyland California hit by Legionnaires disease

    Eight of the twelve cases relate to persons visiting Disneyland, as well as someone who worked at the tourist destination. The other three cases were among residents of Anaheim, but they did not visit the park during the outbreak.
  • PNG ups pressure on refugees to leave Australian camp

    PNG ups pressure on refugees to leave Australian camp

    As Australia had undertaken preliminary screening of the refugees and held their files, that was likely to be the swiftest way to make an arrangement.
    Conor McGregor shoves referee after jumping into ring at Bellator 187

    Conor McGregor shoves referee after jumping into ring at Bellator 187

    When he did so, referee Marc Goddard had some words with McGregor and appeared to direct him out of the cage. Despite the Irishman been comprehensively beaten inside the distance by Floyd Mayweather back in August.
    16 drown, 7 missing as boat capsizes in Krishna river

    16 drown, 7 missing as boat capsizes in Krishna river

    According to PTI , the police said that over 17 others are feared dead, but their bodies are yet to be recovered. The boat, owned by a private agency, overturned as it approached the ferry point around 5.45pm.
  • Qualcomm draws up plans to rebuff Broadcom's $103 billion offer

    Qualcomm draws up plans to rebuff Broadcom's $103 billion offer

    The sources said Broadcom was preparing to submit a slate of directors by Qualcomm's December 8 nomination deadline. Qualcomm rejected Broadcom's $105 billion acquisition offer on Monday, but the battle has just begun.
    LSU's next opponent, Tennessee, fires its head coach

    LSU's next opponent, Tennessee, fires its head coach

    LSU and Tennessee are set to square off on Saturday in Knoxville in what will be the Vols' first game under an interim coach. Finding the right guy has been hard , and there will be intense pressure to get it right this next time.
    Trump arrives in Philippines amid protests

    Trump arrives in Philippines amid protests

    Upon winning election a year ago , he implemented a drug war that has seen thousands of people killed, including children.
  • Samsung CONFIRMS Galaxy A5 2018 Via Support Page

    Samsung CONFIRMS Galaxy A5 2018 Via Support Page

    So there is a chance the Galaxy A series for 2018 could come with a new "Infinity Display" without any home button on the front. Starting with the FCC certification (via mobilexpose ), it reveals that the smartphone will bear a model number of SM-A530N.
    European Union signs landmark new defence pact

    European Union signs landmark new defence pact

    Poland has made a decision to join the Permanent Structured Cooperation (PESCO) in the field of defense within the EU. But, he said, "we must go further" in defense cooperation.
    Trump sarcastically responds to Kim Jong Un insults

    Trump sarcastically responds to Kim Jong Un insults

    Trump followed up his freaky tweet by telling reporters that it would be a "good thing" for him and dictator to become friends. Also on the trip, Mr Trump met with Russian President Vladimir Putin several times on the margins of a summit in Vietnam.

49ers' Marquise Goodwin explains why he was emotional after touchdown vs Giants 49ers' Marquise Goodwin explains why he was emotional after touchdown vs Giants After that long pass, Goodwin fell to his knees in prayer as his teammates gathered around him. "He had a wonderful game today". He said of his wife, Morgan Goodwin-Snow, "The pain (physically, mentally, & emotionally) that she has endured is unbelievable".

McDonald's drive-thru fight erupts over CHICKEN NUGGETS McDonald's drive-thru fight erupts over CHICKEN NUGGETS McNeely said she did get a shot of the car's license plate, which she turned over to managers and police. Police are looking over video of the incident.

Keenum, Vikings Keep Rolling by Beating Redskins 38-30 Keenum, Vikings Keep Rolling by Beating Redskins 38-30 This was an important game for both teams as they hoped to make a run during the second half of the season toward the playoffs. Washington was without starting TE Jordan Reed (hamstring), S Montae Nicholson (shoulder) and DE Matt Ioannidis (hand).

Lions survive a scare, come back to beat Browns Lions survive a scare, come back to beat Browns The Browns made mistakes, including at the end of the first half when they botched the most basic elements in clock management. Detroit needed just 10 rushes to surpass the average of 84.3 yards per game on the ground allowed by the Browns.

Morocco qualifies for World Cup, Ivory Coast misses out Morocco qualifies for World Cup, Ivory Coast misses out This is the fifth time Morocco qualified to the World Cup after Mexico 1970, Mexico 1986, United States 1994, and France 1998. Meanwhile, in Group A, Tunisia played out a tense goalless draw with Libya to edge Congo DR to top spot by just one point.