Compared to the same timeframe as last year, this year's haul represents an increase of 26%, the company said. Promotion Period: 04-01-2020 – 11-01-2020; January 4 – SUPER VALUE DEALS – Specially for you January 6 – BIG CLEARANCE DISCOUNTS – Deals over 70% off January 6 – MUST-HAVES – Hot items, huge discounts! Livestreaming is expected to be a "key growth driver," for this year's Double 11, said Wang, of Forrester. Together both JD.com and Alibaba brought in over $68 billion in Singles Day sales last year. This year, it's taking on new meaning as a showcase for the country's success in battling the Covid-19 pandemic. January. This year, the company added an extra three days of sales — which took place from November 1 through 3 — because of the pandemic, according to Alicia Yap, managing director at Citigroup Global Markets Asia. Alibaba set a new sales record for the annual Singles Day shopping event. “More and more, Alibaba is becoming synonymous with everyday consumption in China, growing our base (The GMV for 2020 counts sales made on Nov. 1 through 3 and Nov. November 5, 2020, 6:50 AM EST Updated on November 5, 2020, 8:58 PM EST ... Alibaba had benefited from stronger sales in its home market, which had led the global recovery from Covid-19. “The new rules expanded the parameters for determining market share to include factors such as transaction volume, user base, and page views.”, NEW PYMNTS DATA: THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT. As for Singles Day, this year’s strong sales were notable not only for the records broken but also as a barometer of the Chinese consumer’s overall spending power. This translates to … January 1, 2020 New Year’s Day Sales; January 6 – WINTER SALE – Clearance up to 60% off. By Paul R. La Monica, CNN Business. Alibaba Group Holding Ltd. BABA, -1.68% said late Wednesday that its Singles Day sales event generated $74.1 billion in gross merchandise volume … And recent criticism of the annual event by government groups and state media could signal that Ma is still out of favor with Beijing. But a spat between a tech billionaire and Beijing regulators likely won't affect how Chinese consumers shop, according to Penhirin of Oliver Wyman. Wang also expects luxury goods will sell really well, because Chinese usually buy them while traveling overseas. "That's also why it's the first year that luxury brands are heavily involved in Singles Day. "Now it's time to be indulgent," Penhirin said. This year, it's Katy Perry, who was virtually piped into a Shanghai arena late Tuesday evening. 1 and No. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. “[Singles Day] has historically served as a very accurate indicator for what’s happening in the following year for retailers, brands as well as consumers,” said Jonathan Cheng, head of China retail at Bain & Co. “For this year, with COVID, it’ll become more important. Alibaba Sales … "Consumers don't care, honestly," he said, adding that while financial markets might be paying attention to the drama, consumers will think that "as long as I get a good deal, it's none of my business.". Another reason Chinese are buying local is because some remain cost conscious post-pandemic, according to analysts at consultancy Bain & Company. September is a time of renewal. Accessed Aug. 12, 2020. About 20% of these are Playground, 1% are Animatronic Model, and 3% are Coin Operated Games. Related Alibaba's Singles' Day Has Wrapped Up -- Here's How Much the Event Generated in Sales Alibaba smashes 2019 11.11 record by posting $56b in 2020 GMV with 23 hours to go. In the fiscal year ending March 31, 2020, Chinese e-commerce corporation Alibaba Group recorded consolidated revenues of around 509.7 billion yuan. AliExpress Coupon Codes and Promo Codes January 2020. The event has also gained traction outside. Tmall, Alibaba's online marketplace, will open its annual shopping bonanza known as Singles' Day sale on October 21, the company announced on Tuesday. And yet the China Consumers Association, a state-backed national consumer rights group, urged for "rational consumption" during the upcoming Double 11 shopping season, according to statements it issued last week. 2 spots in the ranking for Digital Commerce 360 Online Marketplaces.. On the other hand, Burberry Group Plc, No. The aim of China’s new regulatory proposal is reportedly “to prevent and stop monopolistic practices in internet platforms’ economic activity, to lower compliance costs for law enforcers and business operators, to enhance and improve antitrust regulations on the platform economy, to protect market fairness, to ensure the interests of consumers and society, and to encourage the healthy and continuous development of the platform economy.”. It's like the Shopping Channel or QVC on steroids: Shoppers tune in to watch influencers peddling everything from cars to mangoes, and can score big discounts during the live streams. We reported yesterday that Alibaba is well on its way to create a history. A few more days of huge discounts help "brands or merchants recoup lost sales during the lockdown and [helps] global brands gain access to the stronger demand from Chinese consumers," Yap wrote in a note last week. Alibaba Singles Day 2020 … The remaining 14% of survey respondents said they will spend less on Singles Day, because the pandemic had brought too much uncertainty for them. Alibaba.com offers 445 2020 playground sale products. Chinese shoppers "continue to spend like crazy," said Oliver Wyman partner Jacques Penhirin, who led the survey. The current P/S ratio for Alibaba as of January 05, 2021 is . Alibaba’s shares had already dropped sharply last week after that event. "When pandemic makes international travel impossible, consumers will pivot these purchases domestically and particularly online," she said. Nov 11, 2020 Alibaba Group Holdings' (BABA) - Get Report Singles Day shopping event has topped $75 billion in total sales, a huge increase from … Updated 11:56 AM ET, Thu August 20, 2020 . "China's economy has seen a strong recovery and Chinese consumers' purchase behaviors have already returned to pre-pandemic levels, if not higher," according to Xiaofeng Wang, analyst with market research firm Forrester. Katy Perry sang at the pre-festival concert (appearing virtually), while U.S. brands from Apple to Nike made strong showings. Historical PS ratio values for Alibaba (BABA) over the last 10 years. Alibaba’s Singles Day performance on Wednesday (Nov. 11) shows that the Chinese consumer is back — big time. Alibaba and Singles Day 2020 Alibaba continues its growth trajectory as it reports mind-boggling sales figures. Alibaba Sales Growth Plumbs New Lows While Uncertainty Escalates By . Even though many other online platforms and stores take part in Singles Day, it is still closely tied to Alibaba. May 22, 2020, 7:15 AM EDT Updated on May 22, 2020, 10:17 AM EDT 4:24. International hotel groups Marriott International Inc. and Accor SA also passed the 1 billion yuan transaction mark for the first time.”. Revenue at Alibaba’s cloud computing business, a focus area for the company, jumped 60% to 14.9 billion yuan. A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China November 11, 2020. Zheping Huang. Singles Day — Alibaba’s popular shopping holiday that takes place every Nov. 11 (“11-11”) in China and some other countries — saw online sales explode past last year’s sales totals. Alibaba Group Holdings Ltd. "Alibaba Group Will Announce June Quarter 2020 Results on August 20, 2020." Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. The event — also known as Double 11 — is pegged to China's informal, anti-Valentine's Day holiday that celebrates people who aren't in relationships. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. ", Oliver Wyman found that while foreign brands continue to dominate popular Singles Day categories such as cosmetics and infant formula, a growing number of Chinese shoppers will buy local brands. A survey from market research firm Oliver Wyman found that 86% of Chinese consumers are willing to spend the same as or more than what they did during last year's Singles Day. Sales and marketing expenses – Sales and marketing expenses in the quarter ended March 31, 2020 were RMB12,179 million (US$1,720 million), … Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. An opportunity to start anew, to reinvent some aspect of your life, to refocus on tasks that got forgotten in the heat and lazy days of summer. Import & Export on alibaba.com A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China, Nov 11, 2020. Disclaimer. Alibaba annual revenue for 2020 was $71.985B, a 28.2% increase from 2019. A total of 250,000 brands and five million sellers are expected to participate in the 21-day sale festival that runs until November 11. 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