Alibaba’s Tmall Singles’Day
Alibaba’s Tmall Singles’ Day sales hit 200 billion yuan in about 14 hours and 21 minutes.The final turnover was 268.4 billion.
It took just 96 seconds for Alibaba Group to net the 10 billion yuan ($1.43 billion) worth of gross merchandise volume at midnight of Nov 11 as the internet conglomerate takes the annual shopping bonanza into its second decade. This was shorter than last year’s 125 seconds to cross the same threshold, indicating strong consumption momentum shoring up the Chinese economy.
“This year, new consumption marks the largest departure from its previous editions,” said Alibaba chairman and CEO Daniel Zhang. “It is more than a shopping festival-it is also an occasion for brands to grow and interact with consumers.” Alibaba said more than 200,000 brands are participating in the 11th Singles Day gala, with 1 million new products being offered and more than 500 million users forecast to spend, 100 million more than last year. It added that the estimated consumer savings from brand and platform promotions and coupons could reach 50 billion yuan.
On the evening of the Double Eleven, due to the limited number of certain goods, many people wait until 0:00 in the evening to buy the most affordable products. Add the required products to the shopping cart in advance, collect coupons, and wait for the time to arrive. Always point the phone as soon as the time is up, the result of the following situation, and finally, after a day of struggle, finally finally bought all the products needed.
It’s fun to grab the discount itself, but remember not to go ahead and don’t follow the crowd. There are two preconditions for the double eleven sweeping goods. One is cheap and the other is needed. Although the double eleven is good, you have to keep your reason! Clear your true shopping needs.