Sales from the massive Chinese are 21% higher than in 2017.
No commemoration in China on November 11th, but the tenth anniversary of the largest Internet trade fair, the World Shopping Festival, hosted by Alibaba. A new sales record was set at 30.8 billion dollars (27 billion euros) during 24 hours of the event, against 25 billion last year. This day of online sales, also known as "Individual Day", because of the four "1" of 11 November (11/11) means representing a single person, especially popular.
From the first hour, the Alibaba site organizers knew that there was a great success. Indeed, sales achieved were 21% higher than 2017, mainly thanks to the Taobao application, with 634 million users. There are around 180,000 brands joining the event, and Alibaba's estimates are as important as Christmas, Black Friday and Cyber Monday.
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However, analysts reported that the 2016 record was beaten much earlier in 2017, at noon. In other words, the year-on-year growth was "only" 27% compared to 39% in 2017. In their eyes, this slowdown would be rapid due to the difficulties faced by the Chinese economy , but also to multiply identical exposure. "Singles Day is now the only opportunity for a good business," says an analyst at Oliver Wyman. This success is a good news for Alibaba, whose stock price has dropped by 16% since the beginning of 2016, is being punished by uncertainty about connections between China and the US.