Singles Day is a huge promotional deal in China. How big you ask? Imagine Black Friday in the US and then triple it. In its first five minutes, Alibaba has already racked up more than $1 billion in sales and more than $5.2 billion in the first hour, more than $7 billion after just two hours, with than 84% of sales on mobile devices. Now, halfway through the promotion, sales have passed $12 billion.
2015 Singles Day sales were $14.3 billion in China for one day alone. compared with a $5.8 billion in US Black Friday/Cyber Monday sales. Impressive, for a promotion started by Alibaba in 2009. Here’s what’s planned, projected by the leading e-commerce companies for November 11 and a couple of early returns.
Singles Day has turned into a huge “Retailtainment“, three-week event complete with international celebrities and sales at Alibaba alone are expected to grow by 40% and exceed $20 billion. Launching Singles Day this year in Shenzhen for Alibaba were NBA superstar Kobe Bryant and super-celebrities David and Victoria Beckham after Lady Gaga canceled citing post-US election blues, Alibaba, JD.com, Baidu, Amazon, Tencent and other e-commerce leaders received warnings from the Chinese government about past Singles Day consumer complaints of counterfeiting, delivery of damaged products, falsification of facts and other fraudulent behavior.
Rivals JD.com and Alibaba traded insults ahead of the extra-competitive Singles Day sales event. JD.com reported 14 million sales last year but did not disclose dollar value. This year, JD.com is partnering with Walmart and promoting sales in advance of November 11 as well as during the sales promotion. Both JD.com and Alibaba are hoping the addition of tens of thousands of international brands will push sales higher. By the time you read this post with your coffee this morning in North America, Singles Day will be over in China and we’ll have updates on our Twitter feed and in-depth sales analysis next week.
Alibaba Nears Sales Record at Half-Time on Singles’ Day
Alibaba Group Holding Ltd. is on track to smash its Singles’ Day sales record after notching almost $12 billion in sales around the half-way mark of its Singles’ Day shopathon.
The company has racked up 80.7 billion yuan ($11.9 billion) in transactions as of midday in China, during a 24-hour event that may offer clues on the health of the economy and its largest online retailer.
Investors are keeping a close eye on the annual Nov. 11 spending blitz that dwarfs Black Friday and Cyber Monday in the U.S., to see if Alibaba can reprise the 60 percent leap in transactions to 91.2 billion yuan ($14.3 billion) it managed last year. The e-commerce giant turned up the star-wattage for 2016, enlisting Hollywood actress Scarlett Johansson, sports celebrity David Beckham, basketball legend Kobe Bryant and pop-rock band One Republic to headline a pre-sale gala and drum up international attention. Pop star Katy Perry pulled out at the last minute because of a family emergency. Via bloomberg.com
Alibaba’s Singles’ Day Obliterates Cyber Monday Sales In 2 Hours
Alibaba’s Single’s Day, the world’s largest online sales event, came roaring out of the blocks to register $1 billion in sales in its first five minutes on Friday morning China time.
Within two hours it had reaped $7.2 billion in sales—already half of the 24-hour sale’s total $14.3 billion haul last year.
The Chinese online retail giant’s event far outguns its U.S. equivalents Black Friday and Cyber Monday — the latter, by comparison, reported sales of only $3 billion in 2015. Via fortune.com
Alibaba sold over $7 billion worth of goods in just two hours on Singles’ Day
China’s biggest online shopping holiday, “Singles’ Day” (Nov. 11) is continuing its breakneck growth this year. Just two hours after it had kicked off, the total sales from Alibaba’s online platforms had already surpassed $7 billion, about half of last year’s total. At this pace, Alibaba could be on track to sell over $20 billion in merchandise today.
It’s the eighth time Alibaba has hosted the kinda made-up shopping holiday. Last year it sold $14.3 billion in merchandise, more than Facebook’s 2014 revenue. Via qz.com
Alibaba Off to Hot Start in Its Biggest Single Day, Singles Day
China e-commerce giant Alibaba was off to a strong start on Singles Day, the world’s biggest one-day shopping event, recording $1 billion worth of sales in the first five minutes of shopping and $5.2 billion in the first hour, of which 84% came through mobile devices, the company said.
That already surpasses Alibaba full-day Singles Day total for 2013.
By the second hour, the total amount of goods sold, referred to as gross merchandise value (GMV), reached $7.16 billion. Alibaba said GMV tends to soar in the first few minutes after midnight as pre-orders from promotions in the runup to Nov. 11 are recorded. The promotions let consumers lock in discounts by reserving products in advance.
In the first hour, volume reached a record-breaking peak of 175,000 orders in one second, compared with 140,000 last year, Alibaba said. More than 100,000 merchants, including 11,000 international merchants, are participating. Via investors.com
Alibaba reports Singles’ Day sales at $1B within opening five minutes
The company projects it will break the $14.3B record it set for the occasion last November.
Within the first hour of going live, notes top-selling brands comprised Apple (NASDAQ:AAPL), Onor and Meizu [mobile phones], Nike (NYSE:NKE), Adidas (DE:ADSGN) and New Balance [sports and outdoor equipment], Camel, Skechers and UGG [shoes], Haier, Midea and Siemens [large appliances], Midea, Phillips and Ecovacs [small appliances] and UNIQLO [men’s and women’s apparel].
Despite the apparent hot start to the event, Alibaba ‘s (NYSE:BABA) nonetheless was swept up in a broad downward move across the tech sector, lower by 1.8% on the day. Earlier this week: Alibaba, JD.com and others were cautioned by regulators on sales practices ahead of “Singles’ Day” Via investing.com
David and Victoria Beckham unite for stage appearance together in China
They head up one of the tightest-knit families in show business.
But Thursday’s joint stage appearance in China was a rare one for David and Victoria Beckham, who are more regularly committed to individual projects.
The famous couple lent star power to the Global Shopping Festival Countdown Gala in Shenzhen, Guangdong Province, themselves looking particularly stylish.
Onstage, David exchanged adoring glances with Victoria, particularly when she showed her playful side and obligingly tried on a pair of sunglasses for size. Via dailymail.co.uk
Chinese Regulators Warn Alibaba Group Holding Limited (NYSE:BABA) And Peers Regarding Singles Day Malpractices
Alibaba Group Holding Ltd (NYSE:BABA), JD.Com Inc. (ADR) (NASDAQ:JD) and other big names in the Chinese e-commerce industry have been issued a warning against malpractice on Singles Day. The Chinese department of justice and trade regulatory commission sat down with the management of the biggest players in the Chinese e-commerce industry and issued an explicit warning regarding any sort of malpractice.
It has been brought to the attention of authorities that during last year’s Singles Day, dirty tactics were used by some of the websites in order to boost sales; which included counterfeiting, delivery of damaged products, falsification of facts and other fraudulent behavior.
The authority called State Administration for Industry and Commerce (SAIC) commented that they have met with the management of Amazon.com, Alibaba, Baidu, Tencent and JD.com on November 7. The spokesperson also added that SAIC believes in fair and free commerce and will take strict action against any violation of trade rules. Via smartstocknews.com
Alibaba’s Big ‘Single’s Day’ Gamble: The Chinese E-Commerce Giant Expands Promotions From 24 Hours To 24 Days
Shoppers in China can have their party cake now and eat it, too. That’s because New York-listed e-commerce giant Alibaba Group has expanded its 6-year annual promotions for “Single’s Day” to 24 days instead of the usual 24 hours. That occasion usually refers only to Nov. 11 — where the two ones represent singles — an informal Chinese holiday marked by exchanges of gifts between increasingly moneyed unmarried people. It’s often compared to Cyber Monday, the biggest online shopping day in the United States.
The 24-day scheme might help declare the shopping holiday’s chief commercializing force Alibaba the most sought-after suitor in China as e-commerce rivals get stronger. It could also just make Alibaba’s Single’s Day spree seem as routine as an old married couple as consumers get used to it. Via forbes.com
Alibaba and JD.com spar ahead of Singles Day
A fresh war of words has erupted between China’s top two ecommerce companies as competition heats up ahead of the world’s biggest online shopping day.
With China’s economy cooling and online sales growth slowing, both JD.com, the second-largest ecommerce platform by sales and larger rival Alibaba have a lot riding on shopping totals for Singles Day.
Last year Alibaba racked up a record-breaking $9bn in sales on November 11 — blowing past the previous year’s $5.9bn — while JD.com said it did 14m sales, without giving a monetary figure.
JD.com and Alibaba have also made a tradition of loud public name-calling in the run-up to the day — which in the past had been a day for people to celebrate their single status, but has become an annual festival of consumption that routinely surpasses shopping records elsewhere in the world, including Cyber Monday in the US. Via ft.com
E-commerce giants gear up for Singles Day shopping spree
JD, the second largest domestic market player, is calling on its customers to be a bit more rational this year, and focus on quality and service. This year, JD has Walmart’s support thanks to a strategic partnership inked in June. Walmart’s global resources and brands are expected to give JD the upper hand in terms of quality, overseas produce.
Another major player, suning.com, has built an “offline wonderland” in southern China. Featuring 111 traditional Chinese scenes, 111 special snacks, and 11 challenging games, two celebrities will be “lords” of the city, and 111 online celebrities will live-stream the event day and night from Nov 8 to Nov 11.
Alliances seem to be on the cards this year. Alibaba and Suning inked a 1-billion-yuan deal to set up an e-commerce firm in Chongqing last month, while JD partnered with Tencent to produce a new marketing project just days later. Via chinadaily.com.cn
Alibaba and JD.com are gearing up for Singles’ Day
JD.com is leveraging its partnership with Walmart to drive up engagement ahead of Singles’ Day. The two companies announced several initiatives just ahead of Singles’ Day that could help boost sales for both retailers, including a Sam’s Club flagship store on JD.com, a Walmart Global Imports Store on JD.com, and a two-hour grocery delivery service from over 20 Walmart stores in China.
Putting the focus on its Walmart partnership could help JD.com compete more heavily with Alibaba on Singles’ Day, given that Chinese consumers crave foreign-made products, particularly those from the US. In fact, over 60% of Chinese consumers are willing to pay more for products that are made in the US as opposed to China, according to a report from the Boston Consulting Group. JD.com is in second place by market share in the Chinese e-commerce market, but capitalizing on its Walmart partnership could help it onboard more shoppers and convert them into loyal ones after Singles’ Day is over. Via businessinsider.com
Singles’ Day: Retailtainment Supersedes Discounting
Singles’ Day is the most influential annual online shopping day in China, and branded by Alibaba as the Global Shopping Festival. The shopping holiday falls on Nov. 11 (11/11), with the ones in the date representing people who are single. The celebration originated in China in the 1990s as a way for male Nanjing University students to celebrate their “singleness.” In 2009, Alibaba decided to offer sharp Singles’ Day discounts online, boosting awareness of the holiday and making it into an international shopping event.
Since the event’s inception, sales on Singles’ Day have grown immensely each year. Last year’s growth stemmed from Alibaba’s globalization efforts for the shopping festival. Buyers and sellers from 232 countries and regions participated in Singles’ Day 2015. On Tmall Global alone, Singles’ Day featured sales from more than 5,000 international brands from 25 countries, and more than 30 million Chinese shoppers purchased imported products, according to official statistics. Singles’ Day allows international retailers to target Chinese shoppers, and Chinese retailers to target international shoppers, making it the ultimate platform for brands to extend their reach internationally.
This year, the shopping day has been transformed into a three-week event that kicked off on Oct. 21 and runs through Singles’ Day itself on Nov. 11. We estimate that Alibaba’s Singles’ Day will generate $20 billion in total transaction value, representing 40% growth from last year. Last year’s gross merchandise volume (GMV) reached $14.3 billion, a 54% increase from the year before. The major increase in 2015 was due to the sales boost from overseas products and the adoption of an omni-channel strategy. This year, we see Alibaba’s use of entertainment, including virtual reality (VR) and augmented reality (AR), increasing user engagement with brands and ultimately driving sales growth. Via forbes.com
China’s Singles’ Day set to smash 91.2b yuan ($14.38 billion) spending record
David Beckham may be able to tell President-elect Donald Trump a few things about China’s economy.
He’ll star at the Nov 11 Singles’ Day online shopping bonanza hosted by Chinese e-commerce giant Alibaba. Last year’s event attracted 91.2 billion yuan of sales — more than four times that of Cyber Monday in the US. That record is expected to be broken again this year, driven by younger and more affluent middle-class shoppers with tastes increasingly determined by international trends.
Katy Perry was originally meant to headline an hours-long gala to launch the country’s biggest online-shopping day of the year. But the “Firework” singer cancelled her appearance and publicly expressed her disappointment on Twitter about the outcome of the US presidential elections. “Gonna cry my false eye lashes off,” the songstress wrote, appending an emoticon of the American flag. Via theedgemarkets.com
China’s Singles Day vs America’s Black Friday and Cyber Monday
Every November, the average shopper in the US and China spends a fistful of Benjamins and a fistful of Maos on the year’s hottest sales events.
It happens first in China on Singles Day, which falls on November 11. Next it’s the turn of American shoppers the day after Thanksgiving on Black Friday, and then again on Cyber Monday. So which day is bigger? Which country wins? Via Tech in Asia
Singles Day Sales Report Ahead
We’ll have lots more immediate sales results in our Twitter feed today and more in-depth sales analysis next week but Singles Day is off to a roaring start by the time you read this post this morning in the US. Happy weekend relaxation to all.