Import & Export on alibaba.com It takes place on November 11, a date that was chosen because it is written as four ones, or singles. And Estee Lauder’s flagship store on Alibaba’s Tmall platform was the first to surpass 1 billion yuan in sales, the e-commerce company said. Import & Export on alibaba.com That’s up from $38.4 billion last year. Factset: FactSet Research Systems Inc.2018. Alibaba Group Holding Ltd. BABA, -1.68% said late Wednesday that its Singles Day sales event generated $74.1 billion in gross merchandise volume … Revenue at Alibaba’s cloud computing business, a focus area for the company, jumped 60% to 14.9 billion yuan. 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. It's been a strange year for Chinese consumers. Alibaba annual revenue for 2018 was $39.898B, a 73.51% increase from 2017. China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. Alibaba sales passed $74 billion.This is almost double the number of Singles’ Day sales last year. U.S. shoppers spent a record $28.49 billion online during that period, according to Adobe Analytics data. Alibaba.com offers 445 2020 playground sale products. And if you look at China, which is the first one to be coming out of COVID, it’s going to be an indicator for other countries as well.”. Another reason Chinese are buying local is because some remain cost conscious post-pandemic, according to analysts at consultancy Bain & Company. 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. “Over the past 12 years, innovation … So shoppers are approaching Singles Day with an indulgent mindset. Alibaba’s Singles Day performance on Wednesday (Nov. 11) shows that the Chinese consumer is back — big time. Compared to the same timeframe as last year, this year's haul represents an increase of 26%, the company said. About 20% of these are Playground, 1% are Animatronic Model, and 3% are Coin Operated Games. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. 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. In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. Katy Perry sang at the pre-festival concert (appearing virtually), while U.S. brands from Apple to Nike made strong showings. (The GMV for 2020 counts sales made on Nov. 1 through 3 and Nov. May 22, 2020, 7:15 AM EDT Updated on May 22, 2020, 10:17 AM EDT 4:24. Related Alibaba's Singles' Day Has Wrapped Up -- Here's How Much the Event Generated in Sales Many companies "are doubling down" on their Singles Day sales events, according to Wang. Hong Kong (CNN Business)China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. Alibaba Group Announces March Quarter and Full Fiscal Year 2019 Results Hangzhou, China, May 15, 2019 – Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter and fiscal year ended March 31, 2019. All rights reserved. 1 and No. "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.". 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. They saved money during. Alibaba owns and operates Taobao and Tmall, which hold the No. Alibaba Sales … And recent criticism of the annual event by government groups and state media could signal that Ma is still out of favor with Beijing. About: The PYMNTS Subscription Bundling Report, surveyed a census-balanced panel of 2,962 U.S. consumers to gauge how their attitudes toward bundled subscription services have changed during the pandemic, especially those offered by companies in the streaming sector. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. Most stock quote data provided by BATS. The report also examines how the knowledge that a COVID-19 vaccine will soon be available throughout the U.S. could affect their perceptions. Accessed Aug. 12, 2020. Tmall, Alibaba's online marketplace, will open its annual shopping bonanza known as Singles' Day sale on October 21, the company announced on Tuesday. “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. However, Alibaba’s Singles Day success was overshadowed by a precipitous 9.8 percent drop in its stock on the Hong Kong Stock Exchange. According to Bloomberg, “during the first 111 minutes of sales on Nov. 1, Nike Inc. and Apple Inc. were among 100 brands that reported 100 million yuan ($15 million) in transactions. A wide variety of 2020 playground sale options are available to you, such as is_customized, material, and category. Penhirin predicted the event would be massive for participating brands and retailers, because shoppers are using it as an opportunity to treat themselves. 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.”. We reported yesterday that Alibaba is well on its way to create a history. For example, a shopper who usually buys Maybelline makeup, he said, might instead spend a bit more to buy stuff from Yves Saint Laurent on sale. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 2020 is perhaps the most unique and different year of our lifetime. "That's also why it's the first year that luxury brands are heavily involved in Singles Day. Alibaba Sales Growth Plumbs New Lows While Uncertainty Escalates By . September is a time of renewal. Livestreaming is expected to be a "key growth driver," for this year's Double 11, said Wang, of Forrester. The regulations will also hit Alibaba’s Ant Group, which took a beating last week after the government suspended its planned initial public offering (IPO). The remaining 14% of survey respondents said they will spend less on Singles Day, because the pandemic had brought too much uncertainty for them. All times are ET. Chinese government halts Ant Group's giant IPO, Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger, positive economic growth for the second quarter in a row, Chinese shoppers are staying online. “More and more, Alibaba is becoming synonymous with everyday consumption in China, growing our base Nov 11, 2020 Alibaba Group Holdings' (BABA) - Get Report Singles Day shopping event has topped $75 billion in total sales, a huge increase from … Alibaba annual revenue for 2019 was $56.152B, a 40.74% increase from 2018. This year, it's taking on new meaning as a showcase for the country's success in battling the Covid-19 pandemic. 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. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Alibaba smashes 2019 11.11 record by posting $56b in 2020 GMV with 23 hours to go. Chinese shoppers "continue to spend like crazy," said Oliver Wyman partner Jacques Penhirin, who led the survey. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first 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. "When pandemic makes international travel impossible, consumers will pivot these purchases domestically and particularly online," she said. International hotel groups Marriott International Inc. and Accor SA also passed the 1 billion yuan transaction mark for the first time.”. "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. Still, that performance was higher than the five days of U.S. online sales seen last year between Thanksgiving and Cyber Monday. Alibaba revenue for the twelve months ending September 30, 2020 was $83.193B, a 28.15% increase year-over-year. All rights reserved. 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. Alibaba, China’s biggest (and lately its most controversial) company, said Singles Day sales totaled more than $74.1 billion. During November 1 to 11, 2020, also known as Singles' Day shopping festival, Chinese consumer spending on Alibaba’s e-commerce platforms amounted to 74.1 billion U.S. "It's not patriotism ... it's just the technology, design and quality are better, therefore there is just more confidence" in Chinese brands, Penhirin said. 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. 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. 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. In the fiscal year ending March 31, 2020, Chinese e-commerce corporation Alibaba Group recorded consolidated revenues of around 509.7 billion yuan. 11.) Together both JD.com and Alibaba brought in over $68 billion in Singles Day sales last year. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. Alibaba Group Holdings Ltd. "Alibaba Group Will Announce June Quarter 2020 Results on August 20, 2020." Zheping Huang. Visible Alpha. 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. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. This translates to … Disclaimer. THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT, Alibaba On Facilitating Cross-Border Trust To Boost International Commerce, Alibaba Bridges Cross-Border B2B Buyer-Seller Trust Gap, Alibaba Retail Exec: Chinese Consumers Spending More Amid Pandemic, MercadoLibre Banking License Hints At New Arrow In Quiver Vs. Amazon, Amazon, Walmart Benefit As More Than 1 Million Food Stamp Shoppers Buy Online. The figure includes sales generated on November 1. The event has also gained traction outside. The current P/S ratio for Alibaba as of January 05, 2021 is . That forecast, combined with the success of the 2020 Singles Day sales, suggests that the Chinese economy is recovering well from the pandemic. January. January 1, 2020 New Year’s Day Sales; January 6 – WINTER SALE – Clearance up to 60% off. 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. The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. The Chinese government has said it is eager to stimulate domestic consumption to spur the country's economic growth. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival However, the company technically started Singles “Day” on Nov. 3 … Alibaba.com is offering our special Super September promotion from September 1-30, 2020. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Hangzhou, China, November 12, 2020 - Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) today announced the 2020 11.11 Global Shopping Festival generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019. 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. 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