• Latest
  • Trending
Alibaba breaks sales record on Singles Day

Alibaba breaks sales record on Singles Day

November 12, 2018
appointments:-enugu-north-unfairly-treated-–-buhari-movement

Appointments: Enugu North unfairly treated – Buhari Movement

July 13, 2020
federal-legislator-advocates-cancellation-of-annual-recess-over-critical-bills

Federal legislator advocates cancellation of annual recess over critical bills

July 13, 2020
covid-19:-bill-gates-is-linked-to-666-–-pastor-chris-okotie-reveals-satan’s-plans

COVID-19: Bill Gates is linked to 666 – Pastor Chris Okotie reveals Satan’s plans

July 13, 2020
ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
covid-19:-ncdc-announces-discharge-of-13,447-patients,-571-new-cases

COVID-19: NCDC announces discharge of 13,447 patients, 571 new cases

July 13, 2020
magu:-buhari,-apc-against-corruption-–-spokesman,-nabena

Magu: Buhari, APC against corruption – Yekini Nabena

July 13, 2020
malami-breaks-silence-on-approving-auctioning-of-seized-oil-vessels

Malami breaks silence on approving auctioning of seized oil vessels

July 12, 2020
nigerian-troops-kill-scores-of-bandits,-rescue-kidnapped-victims-in-sokoto,-zamfara

Nigerian troops kill scores of bandits, rescue kidnapped victims in Sokoto, Zamfara

July 12, 2020
kwara-deputy-governor’s-staff-contract-covid-19

Kwara Deputy Governor’s staff contract COVID-19

July 12, 2020
how-nigerian-govt,-states,-lgs-shared-n7.8-trn-in-2019-[breakdown]

How Nigerian govt, States, LGs shared N7.8 trn in 2019

July 12, 2020
covid-19:-guidelines-for-school-reopening-in-akwa-ibom-unrealistic,-tough-–-proprietors

COVID-19: Guidelines for school reopening in Akwa Ibom unrealistic, tough – Proprietors

July 12, 2020
  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy
Tuesday, January 31, 2023
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security
No Result
View All Result
Nigerian News
No Result
View All Result

Alibaba breaks sales record on Singles Day

by Olalere Abolore
November 12, 2018
0
Alibaba CEO Daniel Zhang speaks in front of a screen showing total sales at over 213.5 billion yuan (30.7 billion USD) shortly after the end of the 11.11, or “Singles Day” shopping festival. AFP Picture

Alibaba CEO Daniel Zhang speaks in front of a screen showing total sales at over 213.5 billion yuan (30.7 billion USD) shortly after the end of the 11.11, or “Singles Day” shopping festival. AFP Picture

781
SHARES
6.5k
VIEWS
Share on FacebookShare on Twitter

Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual “Singles Day” shopping frenzy, but growth slowed from previous years.

The world’s biggest 24-hour shopping event, celebrating its tenth year, kicked off early Sunday and once again shattered its own sales mark as Chinese online buyers seized on promotions to snap up everything from electronics to clothing and housewares.

ReadAlso

Chinese scientist makes claim of world’s first gene-edited babies

Alibaba makes record $10b online sale in one hour

Also read: Alibaba makes $10b sale in one hour

Sales rose 27 percent, compared with 39 percent last year.

Although retail sales in China have been steady, the outlook is uncertain as the economy slows and concerns rise over the impact of the trade war with the United States.

Web Hosting in Nigeria

Alibaba’s share price, which doubled in 2017, is down 16 percent this year.

Singles Day was originally set aside as an unofficial day for China’s unmarried, but Alibaba latched on to it a decade ago as a shopping promotion akin to the late-November US “Black Friday” retail crush.

Capitalising on the growing addiction to one-click smartphone payments in China, it has proven a huge success.

But Alibaba earlier this month lowered slightly its full-year revenue forecast, citing consumer uncertainty over the economic outlook.

Company officials remained bullish on the future, however, as Alibaba pushes new initiatives.

Besides expanding overseas, the e-commerce giant continues to invest in China in what it calls “new retail”, which optimises in-store sales and service using data culled online.

Hema, a grocery store launched by Alibaba in 2015 and one of the “new retail” flagships, allows customers to shop and dine in-store as well as order groceries online.

“I think you have to understand Alibaba and what Alibaba is doing in the context of the long-term secular trend that’s developing in China, which is the rise of the Chinese middle class,” Alibaba Executive Vice Chairman Joe Tsai said at a Singles Day gala.

“That trend is not going to stop, trade war or no trade war.”

Nigerians news

Email us @ info[at]nigerians.news
Previous Post

Counting machines malfunction in Florida as vote recount begins

Next Post

N33bn NEMA Report: Group blasts PDP for attacking Osinbajo

Related Posts

ogun-nnpp-fires-abiodun-as-bridge-collapses-less-than-one-year-after-construction
Featured

NNPP fires Abiodun as bridge collapses less than one year after construction

July 13, 2020
efcc:-magu-worked-for-osinbajo,-tinubu,-they-are-his-godfathers-–-fani-kayode
Anti-corruption

EFCC: Magu worked for Osinbajo, Tinubu, they are his godfathers – Fani-Kayode

July 13, 2020
how-nigerian-govt,-states,-lgs-shared-n7.8-trn-in-2019-[breakdown]
Economy

How Nigerian govt, States, LGs shared N7.8 trn in 2019

July 12, 2020
buhari-told-to-sack-buratai-now
Featured

Sack Buratai Now – Olusegun

July 12, 2020
nddc-n40-billion-alleged-scam:-akpabio,-ex-md-trade-tackles
Anti-corruption

NDDC N40 billion alleged scam: Akpabio, Ex-MD trade tackles

July 12, 2020
usman-vs-masvidal:-buhari-reacts-as-nigerian-retains-ufc-title
Featured

Usman vs Masvidal: Buhari reacts as Nigerian retains UFC title

July 12, 2020
Next Post
N33bn NEMA Report: Group blasts PDP for attacking Osinbajo

N33bn NEMA Report: Group blasts PDP for attacking Osinbajo

Cheap Web hosting in Nigeria

Popular News

TV host donates $100,000 to Nigerian paralysed footballer

Woman kills husband, children, self

Counting machines malfunction in Florida as vote recount begins

Subscribe to Nigerian's news Alert

Enter your email address to subscribe to Nigerian's news and receive notifications of new posts by email.

Join 245 other subscribers

Nigerian News

© 2019 Nigerian's news | Designed by Afeeshost

Quick Links

  • About Us
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy

Follow Us

  • Home
  • News
  • World
  • Business
  • Entertainment
  • Politics
  • Sports
  • Tech
  • Security

© 2019 Nigerian's news | Designed by Afeeshost

Posting....