Sunday , May 9 2021

Individual Day racks raise $ 33b in sales in 16 hours, Asia News & Top Stories



SHANGHAI • The Alibaba Group signed 168.3 billion yuan ($ 33.3 billion) in sales at 16 hours of annual Individual Day swamp, placing a record as shoppers transported online bazaars of the giant e-commerce.

China's largest company, who used a contemporary television entertainment broadcast with Cirque du Soleil and songwriter Mariah Carey to get more businesses, said the Xiaomi, Apple and Dyson products were the top three brands in early sales.

The annual retail celebration, originally dedicated to the unconnected nation, has become important not only for the company, but also to the country.

This year's gala 11 offers a snapshot of consumer contact in China as tensions and US tire-fortat tariff warrant stock markets and threaten to weaken the world's economy number 2.

Alibaba led the 100 billion yuan mark at least two hours to Individual Day, according to the Alibaba news website.

The challenge for the billionaire meter Jack Ma and the generalist Daniel Zhang was to record another record after recruiting the decline of the world. With a cooling economy, saturated markets and competition from smaller platforms such as JD.com and Pinduoduo, Alibaba is looking for new growth machines.

One day was the idea of ​​Mr Ma and Mr Zhang, who came up with the idea of ​​the store's trench a decade ago. Having first been populated by college students, November 11 came to be illegal to Valentine's Day mediation. It has become as huge as packaging waste – Alibaba expects one billion packages to be transported this year – and potential environmental damage continues to be difficult problems.

The chief executive, Mr Zhang, who takes over from Mr Ma must retire as chairman next year, prove that he can continue with that legacy. Its Hangzhou based company also uses the occasion to test the limitations of its cloud computers, distribution units and payments.

Alibaba led the 100 billion yuan mark at least two hours to Individual Day, according to the Alibaba news website.

However, there was some uncertainty this year, as the commercial war and the spoil of asset values ​​threaten disturbing economic growth. Growth of Chinese online retail sales slowed to 24 per cent in the third quarter, down 12 percentage points of the previous three months, according to the National Statistics Bureau.

It's been three years since Mr Ma said he wanted to make a Global One-Day phenomenon. International expansion will be a key area of ​​Mr Zhang's effort to keep cutting records.

Last year, the top three Non-Chinese Single Day markets were in Russia, Hong Kong and the US – respectively. Popular items bought abroad included mobile phones, wool coats and knitting sweaters.

During the first hour of Individual Day this year, the best countries that sold to China were Japan, the United States and South Korea, and the most popular items bought abroad were dresses, wool coats, pants and hoods.

At the same time, Alibaba's efforts to push the US into rubbish. He abolished a pledge to create a million jobs in the country, who lost his business chief executive, and jettisoned plans for an Affiliate Ant Financial to acquire MoneyGram.

US President Donald Trump said in the middle of last month that he intended to withdraw the United States from an 192 nation agreement that provides for Chinese companies to reduce shipping rates for small packs sent to American users , making it harder for Chinese traders to enter the market.

South East Asia will provide the clearest sign of Alibaba's ability to get global. With Lazada based on Singapore now full under the wing of Alibaba, the region remains one of the company's brightest places, in the background of slowdown growth in China and tragedy brought by the trade war increasing.

BLOOMBERG


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