Chinese e-commerce giants report booming Songs Day sales

Chinese e-commerce companies report almost $50 billion in sales on Singles Day, a sales promo that has become the world’s busiest online shopping day

November 11, 2019, 5: 24 AM

1 minutes read

Chinese e-commerce giant Alibaba states merchants on its platforms offered $12 billion worth of goods in the first hour of Songs Day, a marketing occasion that has become the world’s most significant online shopping day.

Alibaba and rival JD.com reported an overall of almost $50 billion in sales by midmorning Monday.

The so-called 11/11 occasion started as a joke vacation in the 1990 s as an alternative to Valentine’s Day for individuals without romantic partners and was adopted by Alibaba a years back as a marketing tool.

Rivals consisting of JD.com, Pinduoduo and Suning have actually joined in, providing discount rates and special deals.

Alibaba stated sales by merchants on its platforms reached $258 billion by midmorning. JD.com stated its orders amounted to $238 billion by 9 a.m.


ABC News


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Post Author: Izabella Jaworska