Singles Day Archives - Page 4 of 4 - Inside Retail Asia

Alibaba soars on Singles Day

E-commerce giant Alibaba has raked in 35 billion yuan ($5.75 billion) during Singles Day, China’s biggest online shopping day. That’s far higher that the 19.1 billion yuan of last year. Discounts are what prompted the shoppers to spend online. Starting midnight, Tmall’s vendors started cutting prices by 50 per cent or more on selected products from 20,000 Chinese and international merchants including Steven Madden and Gap. Before the sales, Alibaba’s founder and chairman Jack Ma told me…

Singles Day: the next spending boom

Singles Day, a pop culture holiday in China, is set to be the next big retail spending date. On November 11, young Chinese will celebrate their bachelor life – and online retailers are ramping up plans to cash in on the event, another potential mainstay of consumer spending in the vein of Valentines Day, Black Friday in the US, and Christmas in the west. E-commerce players Tmall.com and Taobao.com, which achieved a sales volume worth 19.1 billion yuan last year, is out to attract more shop…

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