Singles' Day sales hit record $38 billion

[Anonymous]

I remember when Single's Day was launched..



Who knew how successful it would be for Alibaba.



Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.



The event has since been replicated at home and abroad, with Singles' Day promotions found at rivals such as China's JD.com Inc and Pinduoduo Inc as well as South Korea's 11thStreet and Singapore's Qoo10.



Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion), up 26% from last year but below Citic Securities' forecasts for a 20-25% expansion.



The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year's 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD">https://www.reuters.com/article/us-sing ... SKBN1XK0HD">https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD

[Anonymous]

History of Singles Day



Singles Day is a Chinese holiday that originated from Nanjing University to be a celebration for single people during the 1990's. The date corresponds with four "ones", representing four singles. It was originally called Bachelor's Day due to how four male college students decided on this day to celebrate the idea of being single. This idea spread to different universities and eventually into mainstream culture, evolving over time as something men and women can enjoy. The holiday serves as a time when people can meet up and socialize at parties, and has also become one of the most popular shopping days in China.

[Anonymous]

If they changed the name to adult virgin day, old Joe would move to China.

[Gaon]

I remember when Single's Day was launched..



Who knew how successful it would be for Alibaba.



Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.



The event has since been replicated at home and abroad, with Singles' Day promotions found at rivals such as China's JD.com Inc and Pinduoduo Inc as well as South Korea's 11thStreet and Singapore's Qoo10.



Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion), up 26% from last year but below Citic Securities' forecasts for a 20-25% expansion.



The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year's 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD">https://www.reuters.com/article/us-sing ... SKBN1XK0HD">https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

[Anonymous]

I remember when Single's Day was launched..



Who knew how successful it would be for Alibaba.



Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.



The event has since been replicated at home and abroad, with Singles' Day promotions found at rivals such as China's JD.com Inc and Pinduoduo Inc as well as South Korea's 11thStreet and Singapore's Qoo10.



Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion), up 26% from last year but below Citic Securities' forecasts for a 20-25% expansion.



The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year's 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD">https://www.reuters.com/article/us-sing ... SKBN1XK0HD">https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD

Figures an Asian country would come up with another mass consumption day.



Japan has two Valentine's Days. One in which women buy for men and one month later another one where men buy for women.

[Anonymous]

I remember when Single's Day was launched..



Who knew how successful it would be for Alibaba.



Alibaba turned China's informal Singles' Day into a shopping event in 2009 and built it into the world's biggest online sales fest, dwarfing Cyber Monday in the United States which took in $7.9 billion last year. The name is a play on the date, Nov. 11, rendered 11/11 - or Double Eleven, as the event is also known.



The event has since been replicated at home and abroad, with Singles' Day promotions found at rivals such as China's JD.com Inc and Pinduoduo Inc as well as South Korea's 11thStreet and Singapore's Qoo10.



Alibaba said on Monday its gross merchandise volume or GMV for the whole event came in at 268.4 billion yuan ($38.4 billion), up 26% from last year but below Citic Securities' forecasts for a 20-25% expansion.



The Chinese retail juggernaut, with a market value of $486 billion, kicked off this year's 24-hour shopping bonanza with a live performance by U.S. pop star Taylor Swift followed by live-streamed marketing of over 1,000 brands.

https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD">https://www.reuters.com/article/us-sing ... SKBN1XK0HD">https://www.reuters.com/article/us-singles-day-alibaba-sales/alibabas-singles-day-sales-hit-30-billion-on-track-for-record-idUSKBN1XK0HD

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

 

[Vancouver]

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

On tell me about it. I'm keeping an eye on black Friday. Not that I need anything.

[Anonymous]

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

On tell me about it. I'm keeping an eye on black Friday. Not that I need anything.

I keep an eye on Black Friday and Boxing week too TVG..



We might buy a new tv.

[Anonymous]

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

On tell me about it. I'm keeping an eye on black Friday. Not that I need anything.

I keep an eye on Black Friday and Boxing week too TVG..



We might buy a new tv.

I buy clothes some years on Boxing week. We haven't made any Black Friday purchases.

[Anonymous]

Just what civilization needs. Another reason to spend more money they don't have on junk they don't need.

On tell me about it. I'm keeping an eye on black Friday. Not that I need anything.

I keep an eye on Black Friday and Boxing week too TVG..



We might buy a new tv.

I buy clothes some years on Boxing week. We haven't made any Black Friday purchases.

I bought Christmas decorations last year on Boxing Day.

[Anonymous]

Some of the top-selling products early in the day included the 5G version of Huawei's Mate 30 Pro smartphone, as well as Apple's iPhone 11 Pro and Pro Max.

[Anonymous]

Some of the top-selling products early in the day included the 5G version of Huawei's Mate 30 Pro smartphone, as well as Apple's iPhone 11 Pro and Pro Max.

Jewelry and clothing are common purchases too.

[Anonymous]

Some of the top-selling products early in the day included the 5G version of Huawei's Mate 30 Pro smartphone, as well as Apple's iPhone 11 Pro and Pro Max.

Jewelry and clothing are common purchases too.

How about blow up women.

[Vancouver]

I guess in China they don't celebrate remembrance day? Sound like they care more about that new smartphone.

[Anonymous]

I guess in China they don't celebrate remembrance day? Sound like they care more about that new smartphone.

Why should they. China never sent troops into WW1.