Thursday , August 5 2021

China's annual shopping frenzy breaks records again



SHANGHAI – Online shoppers in China have broken down the record last year by making $ 30.8 billion in sales on Sunday buying the country and the country, as the tradition marks its 10th year.

The spending competition since Cyber ​​Llun for years has been abducted in the United States for online purchases made on an individual day.

This year's fund was 27 per cent higher than one year ago. It fractures from dark prospects for the world's second largest economy, struggling with tariff war with the US, slowing down the stock market and slowing down overall growth.

It is known as Singles Day, the clamor for dealing and discounts was revealed with a typical tide by Alibaba, a Chinese e-commerce, who has turned unofficial holiday to people without romantic partners to get an annual spot for digital retailers.

A massive screen in the Alibaba festival in Shanghai showed the real-time sales numbers. Just before 4 p.m. On Sunday, the sales reached 168.2 billion yuan ($ 24.2 billion) – exceeding the total number of Individual Day purchases last year, according to the figures posted online by Alibaba Group.

At the end of the 24-hour rubbish, Alibaba said there were a total of sales worth up to 213.5 billion yuan ($ 30.8 billion).

CEO Alibaba Group, Daniel Zhang, said the results reflect "China's economy and use of China's strength and growth."

Individual Day started as an event celebrated by Chinese university students who were not involved in the 1990s. In Chinese, it's called "Double 11," after the numbers in the month and the date. The improvisation vacations were co-opted by e-retailers in 2009 and transformed into a Chinese version of Cyber ​​Monday, as Monday after Thanksgiving was informed.

Almost $ 6.6 billion was made on sales at Cyber ​​Monday in 2017, about 17 percent of the previous year, according to Adobe Analytics.

Ren Xiaotong, a 27-year-old accountant in Beijing, said she suspects that online stores had deducted their prices to Units Day so they could declare that items had been discounted.

But in the end, his suspicion was not stopped from taking part.

"Individual Day is different now – it has more tricks than before," said Ren. "Just a few dozen yuan at the end you'll keep." Having said that, I'll still buy a pair of shoes, just to celebrate the festival. "

The Twitter Twitter-like platform was covered with jobs related to an Individual's Day on Sunday, and consumers were proud stating that they have resisted these shopping difficulties this year to those who have returned a number of global purchases.

The founder of Alibaba, Jack Ma, who will step down as a chair in less than a year, attended the gala in Shanghai and appeared in a video message where he had tied a live hair crab, which was a purchase popular online.

Individual Day "is a day of discounts, but rather a day of thanksgiving," said Ma in the video. "When retailers use the best products and the best prices to show their thanks to our users."

Chinese e-commerce platforms have come under fire in the past for pyling low quality and counterfeit items. Hong Tao, an economics professor at Beijing University of Technology and Business, said Individual Day urged shoppers to prioritize cheap prices for high quality, causing them to buy unwanted items.

"People are hiding in the celebrations," said Hong in a telephone interview. "This food consumption, which has been limited to one day, can be wild for buyers and sellers."

The event also has major environmental implications.

Although Alibaba and competitor JD.com have promised to use biodegradable packages to reduce waste, East Asia's Greenpeace said that research this month realized that many plastics were "biodegradable" and used by e- Chinese can only break down under high temperatures at facilities that have been restrained in a number across the country.

Greenpeace estimated that "biodegradable" packaging by 2020 could produce around 721 litter loads in China every day.

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Wang from Beijing reported.

Copyright 2018 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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