Friday , July 30 2021

Alibaba recorded sales of $ 1.98 billion (S $) at the opening of Singles' Day, East Asia News & Top Stories.



Hong Kong 's Alibaba Group has surpassed its first start of last year with sales of RMB 150 million ($ 1.88 billion). Shoppers were able to break records as they swept the ecommerce giants. Online bazaar.

Cirque du Soleil and Mariah Carey reported that Xiaomi, Apple and Dyson products are the top three brands in early sales, with China's biggest companies using simultaneous broadcast entertainment to expand its broadcast business.

The annual retail festival, which was originally dedicated to duty free duty, became an important occasion for both the company and the nation.

The November 11th gala event on November 11 will awaken China's consumer sentiment as the US tensions and tariff wars threaten to stifle the stock market and shrink the world's second largest economy.

Alibaba is poised to achieve a 39 percent growth in 2017 and a deal worth RMB 168 billion yuan in 2017, which has shrunk US shopping days that combine Black Friday and Cyber ​​Monday.

According to Alibaba 's news website, the company has surpassed 100 billion yuan in less than two hours on Singles' Day.

SCORCHING RUN

The challenge of Billionaire Jack Ma and Daniel Zhang finally sets another record in 10 years. Alibaba is seeking new growth engines with its cooling economy, saturated market and competition with smaller platforms such as JD.com and Pinduoduo.

"Alibaba is using all platforms to make Singles & # 39; Day a holiday with meals and entertainment at the Singles & # 39; Day event," said Jet Jing, president of Tmall, one of the company's major sites. said. "We are connecting online shopping with off-line physical stores."

Singles' Day was an invention of founders Ma and Zhang. Maang and Zhang came up with the idea of ​​converting a semi-cultural holiday into a shop fest one decade ago.

November 11, popularized by college students, has emerged as an antidote to the appreciation of Valentine's Day. It takes its name from the way the day is written in numbers like 11/11. This is similar to unbroken branches.

Now it's an excuse to shop for entertainment shows and eat and binge. Alibaba expects to ship 1 billion packages this year due to packaging waste, and potential damage to the environment still remains.

The chief executive, who takes over Masha, who will be retiring next year, will have to prove that he can continue the legacy. His Hangzhou material company also tests the limitations of cloud computing, delivery and payment units through this event.

There is still uncertainty this year, as trade wars and a shrinking asset value threaten economic growth. According to the National Bureau of Statistics, China's online retail sales growth was 24 percent in the third quarter, down 12 percentage points from the previous three months.

It 's been three years since Ma said he wants to make Singles' Day a global phenomenon. The international expansion will be the core board of the chapter's efforts to break the record.

Last year, the top 3 non-Chinese single markets were followed by Russia, small Hong Kong and the United States. Popular products purchased overseas include mobile phones, woolen coats and knitted sweaters.

Singles' Day of the Year During the first hour, China, the United States and South Korea were the top sellers in China, and the most popular items abroad were dresses, woolen coats, pants and hoodies.

At the same time, Alibaba's efforts to enter the US are spanning. The company dismissed millions of job creation promises in the United States, lost the top traders in the United States, and criticized Ant Financial for its plans to acquire MoneyGram.

Donald Trump The US Trade Representative (USTR) also plans to withdraw the US from the 192-nation treaty, which discounted fares for small packages sent by Chinese people to US consumers in mid-October, And that it will become more difficult.

Southeast Asia will most clearly show Alibaba's ability to move to the world.

Headquartered in Singapore, Lazada is now lagging behind, and due to the slowdown in China's growth and trade war, the region is one of the relatively bright areas.


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