Sixty-eight seconds: that is the time Chinese consumers put in Sunday night through Monday to spend their first billion dollars online during the traditional "Solo festival", considered the largest Global balancing operation, announced the giant Alibaba sector.
At exactly 00:00, millions of consumers rush to their computers or mobile phones in hopes of benefiting from attractive discounts on a range of products, from electronics to ready-to-wear , going with shoes or furniture. Alibaba and other Chinese e-commerce groups have been in the habit since 2009 announcing discounts on November 1
Sixty-eight hours is spent by Chinese consumers Sunday night through Monday to spend their first billion dollars online in the traditional "Celebration of singles", considered the world's largest sales operation, announced the giant Alibaba sector.
At 00:00 sharp, millions of consumers rush to their computer or mobile phone in hopes of benefiting from attractive discounts on a range of products From electronics to ready-to-wear, shoes and tools. Alibaba and other Chinese e-commerce groups have been in the habit since 2009 announcing discounts on November 11, dubbed "Singles Day" due to the repetition of "a" figure (11 / 11). This shopping frenzy exceeds the value of "Black Friday", the Friday following Thanksgiving at the end of November in the United States. The Singles Festival, which is expected to have a strong purchasing power, is the world's largest distribution event. On Alibaba's platform alone, 7 billion yuan ($ 1 billion) was spent in 68 seconds … even faster than last year, when the milestone reached 85 seconds. This figure corresponds to the total amount of goods purchased on these platforms, including shipping costs. The mark of 100 billion yuan (13 billion euros) crossed in an hour, 3 minutes and 59 seconds exactly, 43 minutes less than last year, Alibaba assures, representing itself half of e-commerce in China . Last year, the total turnover of November 11 reported by Alibaba was 213.5 billion yuan (27 billion euros) in sales within 24 hours. This is a slowing pace of growth from one year to the next: turnover has actually increased by only 27% in 2017, against + 39% last year. Jack Ma's eccentric billionaire group, who has just retired, is hoping to raise 15 billion US dollars in Hong Kong, during an IPO that could soon take place, Bloomberg reported Friday.