Three million workers, helped by 4, planes and ships, are getting ready for the world's biggest online sale - with "revenge spending" tipped to be one of this year's biggest trends. China's Singles Day on 11 November is the world's biggest hour online shopping event, with 1. However, luxury brands are also hoping to get a boost, as millions of Chinese who have been unable to travel overseas on shopping trips go online for what experts are dubbing "revenge spending". Singles Day in China - also known as Alibaba's online shopping rival JD.
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Singles’ Day: a Chinese celebration on its way to the west? | The Drum
The record sales number comes as the Singles Day event, also known as Double 11 because it happens on Nov. Instead, promotions ran from Nov. Alibaba said its total gross merchandise value GMV over the day period, a figure that shows the total value of orders across Alibaba's shopping platforms, totaled That figure nearly doubled last year's Meanwhile, JD. This year's Singles Day event came as the Chinese economy continues to show signs of recovery after appearing to broadly control the coronavirus pandemic. But it was also overshadowed by huge stock price falls for both Alibaba and JD.
China's Singles Day: 3m people, 4,000 planes and cargo ships
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November 11, Chinese consumers spent a record amount on Alibaba platforms Monday during the annual "Singles' Day" buying spree, the world's biggest hour shopping event, which kicked off this year with a glitzy show by US singer Taylor Swift. China's economy is in an extended slowdown exacerbated by the US trade war, and the Singles' Day fire sale is viewed as a snapshot of consumer sentiment in the world's second-biggest economy.