SBR Network - Find detailed guides that will help you do well.
  • Home
  • About SBR
  • Topics
    • Business & Markets
    • Economy
    • Education
    • Entertainment
    • Finance
    • Food & Drinks
    • Healthcare
    • Home
    • News
    • Sports
    • Technology
  • Contact SBR
  • Pages
    • Team Info
    • Privacy Policy
    • Editorial Policy
    • Cookie Policy
No Result
View All Result
SBR Network - Find detailed guides that will help you do well.
  • Home
  • About SBR
  • Topics
    • Business & Markets
    • Economy
    • Education
    • Entertainment
    • Finance
    • Food & Drinks
    • Healthcare
    • Home
    • News
    • Sports
    • Technology
  • Contact SBR
  • Pages
    • Team Info
    • Privacy Policy
    • Editorial Policy
    • Cookie Policy
No Result
View All Result
SBR Network - Find detailed guides that will help you do well.
No Result
View All Result

Alibaba Singles’ Day sales hit $23 billion in first nine hours

mm by Donald Clark
4 years ago
in Business & Markets
0
Alibaba Singles’ Day sales hit $23 billion in first nine hours
400
SHARES
2.4k
VIEWS
Share on FacebookShare on Twitter

Alibaba said sales for its annual Singles’ Day shopping blitz hit 158.31 billion yuan ($22.63 billion) in its first nine hours, up 25% from 126.72 billion yuan at the same point last year.

Like Black Friday and Cyber Monday in the U S, Singles’ Day has been encouraged as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing sharply to become the world’s biggest online sales event.

Also known as “Double Eleven”, the festival’s name comes from the calendar date Nov. 11, with  four ones of 11/11 indicating being single.

Alibaba gathered sales worth $30 billion on its platforms on Singles’ Day last year, smashing the $7.9 billion U.S. online sales for Cyber Monday. Yet the 27% sales growth was the lowest in the event’s 10-year history, forcing a search for fresh ideas.

Citic Securities, in a Nov. 9 research note, forecast Singles Day sales to increase 20-25% this year, held back slightly by slowing overall e-commerce growth in China.

The Chinese retail force with a market value of $486 billion, commenced this year’s 24-hour shopping fest with performances by American pop star Taylor Swift and local celebrities like Jackson Yee.

Sales accomplished $1 billion in the first minute and eight seconds and reached 84 billion yuan in the first hour, up 22% from last year’s early haul of 69 billion yuan.

Singles’ Day was among the top topics on China’s Twitter-like Weibo microblogging platform on Monday morning, with users thinking what they spent their money on.

Alibaba has said it predicts around 500 million users to participate in the shopping festival this year, about 100 million more than last year.

This is the first time Alibaba’s Singles’ Day does not have mighty co-founder Jack Ma on board, after he resigned in September as chairman to start a new life.

It comes at a crucial time for the company, which is eyeing to raise up to $15 billion via a share sale in Hong Kong this month.

Alibaba continues to rule the online shopping industry.

In addition to longtime rival JD.com, it faces competition from Pinduoduo, which rised in popularity in 2017 by focusing consumers in China’s lower-tier cities.

Previous Post

Google’s compact, Pixel 4-like Assistant starts reaching older phones

Next Post

Homeowners Insurance in Florida: A Guide to Everything You Need To Know

mm

Donald Clark

Our founder Donald Clark is a financial analyst in his own right, with a predilection to business news reporting. He is a strong leader who strengthens the spine of our organization, and helps each member of the team strive for the utmost success in news delivery websites. His knowledge and ability to lift the organization up makes him the best boss the team could have asked for, and a welcome critic who betters the quality of our content every step of the way!

Next Post
Homeowners Insurance in Florida: A Guide to Everything You Need To Know

Homeowners Insurance in Florida: A Guide to Everything You Need To Know

  • All
  • Education
Reasons To Buy New Furniture While Renovating an Office
Business & Markets

Reasons To Buy New Furniture While Renovating an Office

by Nicole Haley
September 25, 2023
0

Image Source: modernsensefurniture.com Businesses frequently update their furniture with new, cutting-edge designs by upgrading it. Companies can make the office...

Read more
The Value of Commercial Garbage Compactors

The Value of Commercial Garbage Compactors

September 21, 2023
How to Trade Stocks Online?

How to Trade Stocks Online?

August 23, 2023
How Kevin Modany Stays at the Top of His Game: Finding Excellence in Corporate Leadership

How Kevin Modany Stays at the Top of His Game: Finding Excellence in Corporate Leadership

August 2, 2023
5 Benefits of Organising Professional Duct Cleaning

5 Benefits of Organising Professional Duct Cleaning

July 31, 2023

Recent Posts

  • Reasons To Buy New Furniture While Renovating an Office September 23, 2023
  • The Value of Commercial Garbage Compactors September 21, 2023
  • How to Trade Stocks Online? August 22, 2023
  • How Kevin Modany Stays at the Top of His Game: Finding Excellence in Corporate Leadership August 2, 2023
  • 5 Benefits of Organising Professional Duct Cleaning July 31, 2023
  • Patient Engagement: Challenges and Strategies May 5, 2023
  • How to verify the legitimacy of a cryptocurrency exchange April 26, 2023
  • Reputation Poll International’s 2023 List of 100 Most Reputable Africans Adds Distinguished Lawyer NJ Ayuk  March 1, 2023

2023

  • – September (2)
    • Reasons To Buy New Furniture While Renovating an Office
    • The Value of Commercial Garbage Compactors
  • + August (2)
  • + July (1)
  • + May (1)
  • + April (1)
  • + March (1)
  • + February (1)
  • + January (3)

2022

  • + December (6)
  • + November (1)
  • + October (10)
  • + September (6)
  • + August (4)
  • + July (1)
  • + June (4)
  • + April (3)
  • + March (4)
  • + February (19)
  • + January (8)

2021

  • + December (5)
  • + November (1)
  • + October (2)
  • + September (6)
  • + August (2)
  • + July (9)
  • + June (8)
  • + May (6)
  • + April (3)
  • + March (5)
  • + February (1)
  • + January (4)

2020

  • + December (6)
  • + November (1)
  • + October (9)
  • + September (6)
  • + August (14)
  • + July (15)
  • + June (11)
  • + May (4)
  • + April (11)
  • + March (18)
  • + February (15)
  • + January (1)

2019

  • + December (22)
  • + November (73)
  • + October (54)
  • + September (1)

Tags

how to gamble on sports wholesale church suits
September 2023
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Aug    
Patient Engagement: Challenges and Strategies
Healthcare

Patient Engagement: Challenges and Strategies

As healthcare providers continue to face the challenge of engaging with their patients, it is becoming increasingly important to understand ...

May 6, 2023
Your Guide to Online Doctor’s Notes
Healthcare

Your Guide to Online Doctor’s Notes

An online doctor's note is a document obtained by a patient through a virtual medical consultation. It verifies their medical ...

February 17, 2023
What Makes Blood Vessels Grow?
Healthcare

What Makes Blood Vessels Grow?

Blood vessel growth is essential for fast and effective wound healing. The more blood vessels, the quicker new tissue can ...

January 24, 2023
10 Ways to Protect Your Mental Health at Work
Healthcare

10 Ways to Protect Your Mental Health at Work

No matter what you do for a living, work impacts the state of your mental health — for better or ...

June 11, 2022
Is Your Vape Juice The Right One For You?
Healthcare

Is Your Vape Juice The Right One For You?

Are you a vaper who switches their current vape flavour as often as possible, or have you found a tasty ...

April 13, 2022

Categories

  • Business & Markets
  • Economy
  • Education
  • Entertainment
  • Finance
  • Food & Drinks
  • Gambling
  • Healthcare
  • Home
  • Insurance
  • Law
  • Life
  • News
  • SEO
  • Sports
  • Technology
  • Travel
  • Wine

Recent News

Reasons To Buy New Furniture While Renovating an Office

Reasons To Buy New Furniture While Renovating an Office

September 25, 2023
The Value of Commercial Garbage Compactors

The Value of Commercial Garbage Compactors

September 21, 2023
  • About
  • Our Team
  • Advertise
  • Privacy Policy
  • Get In Touch

@ 2022 SBR Network.

No Result
View All Result
  • About SBR Network News
  • Contacting SBR Network
  • Cookie Policy
  • Editorial Policy
  • Get In Touch
  • Home
  • Privacy Policy
  • SBR Network
  • Team Info

@ 2022 SBR Network.