Technology

E-Commerce: The Singles Party is a hit with its promos

There are several days of promotions for online purchases. We know Black Friday, Cyber ​​Monday and there is also Singles Day (11/11). This is a reality especially in China with the date of November 11th each year. In 2020 the numbers are still very important.

Alibaba, the e-commerce giant in China, announces that it has achieved sales of more than 47.46 billion euros on the occasion of this individual celebration. Consumers ordered 16 million products at reduced prices. This is an achievement seen as indicative of China’s economic recovery after exiting Covid-19.

The gross volume of the goods exceeded 372.3 billion yuan (US $ 47.71 billion) Wednesday morning, with a record 583,000 orders per second, Alibaba said. Alibaba says more than 340 companies, including Apple, L’Oreal, and Huawei, have sales of over 100 million yuan.

The success of these promotional sales is a relief for the Chinese group, which lost around 10% of its stock market valuation after the suspension of the IPO of its subsidiary Ant Group in Shanghai and Hong Kong last week.

Singles Day began in 2009. Spread over four days this year, Alibaba and its competitors have already received 16 times more orders than on the two days of Amazon Prime Day in October. In France, promotions are available through sites such as AliExpress.