HONG KONG (BLOOMBERG) – The Alibaba group recorded 10 billion yuan (S $ 1.98 billion) sales in the early minutes of its annual single Day Extravaganza, which surpassed last year's start and speed breaking record, as buyers roamed e-commerce giant online bazaars.
The biggest Chinese company, which used a simultaneous television entertainment spectacle with the presentation of Cirque du Soleil and Mariah Carey to ensure further business, reported that Xiaomi, Apple and Dyson products were the three most important brands in the early sale.
The annual retail holiday, which was initially dedicated to the people with no connection, has become an important sign, not only for the company, but also for the country.
This November 11th gala offers a look at consumer sentiment in China, as tensions in the US and the tariff war affect stock markets and threaten to reduce the world's economy no. 2.
But Alibaba intends to beat the 397-year growth in 2017 and 168 billion yuan in transactions, leading to the signing of the US Black Friday shopping days and Cyber Monday together.
According to Alibaba's website, the company exceeded $ 100 billion in less than two hours a day.
The challenge for billionaire Jack Ma and his lord Daniel Zhang is that another record will be sealed after a decade. With cooling, saturated markets and the competition of smaller platforms, such as JD.com and Pinduoduo, Alibaba is looking for new growth engines.
"Alibaba uses all its platforms to include dining and entertainment on a holiday day," said Jet Jing, chairman of Tmall, one of the company's top positions. "We connect online shopping with external physical sales outlets."
The day of the single was a note by the co-founders Ma and Zhang, who came up with the idea to turn the anti-culture holiday into a shopfest a decade ago.
For the first time, students popularized, on November 11, it appeared as an antidote to the sensitivity of Valentine. The name is named from the way the day is written numerically as 11. 11., which reminds the "bare branch", the local term for the untouched.
Now this has become an excuse for people to take care of shopping, eating and having fun at fun events. It has become so enormous that Waste Packaging – Alibaba expects 1 billion packages to be shipped this year – and potential damage to the environment continues to be withheld.
The Executive Director, who assumes Ma's retirement from the next year's presidency, must prove that he can continue this legacy. His Hangzhou company takes the opportunity to test the limits of its cloud computing, delivery and cloud computing units.
Nevertheless, this year's uncertainty is threatening the trade war and deflating the value of property in order to hinder economic growth. China's online retail sales slowed to 24 percent in the third quarter, up 12 percentage points over the previous three months, the National Statistical Office reported.
For three years now, Ma has said he wants Singl to become a global phenomenon every day. International expansion will be key to Zhang's efforts to keep broken records.
Last year, they were on three three markets of non-Chinese single-day markets in Russia, small Hong Kong and the US. Popular products purchased abroad included mobile phones, wool coats and knit sweaters.
In the first hour of this year, some of the best-selling countries in Japan, Japan, the United States and South Korea, and the most popular items purchased abroad were dresses, wool coats, trousers and hoodies.
At the same time they are trying Alibaba to force the US. He declined to promise to create one million jobs in the country, lose the top US provider and cancel plans for the associated company Ant Financial to acquire MoneyGram.
US President Donald Trump announced in mid-October that he intends to withdraw the US from a 192-member contract, which gives Chinese companies a reduced price for shipments for small packages sent to US consumers, which makes it difficult for Chinese traders to enter the market.
South East Asia will clearly show that Alibaba is able to go global.
Headquartered in Singapore, which is now entirely under its wing, the region remains one of the company's bright bright spots, with a slowdown in China's growth and the shocks caused by an increasing trade war.