Singles' Day and Black Friday

On November 11, 2019, also known as Singles’ Day, Chinese consumer spending on Alibaba’s e-commerce platforms amounted to 38.4 billion U.S. dollars. Singles’ Day online sales in China usually surpass the U.S. Cyber Monday sales, Black Friday or any other 24-hour shopping campaign by a wide margin making it the biggest shopping holiday in the world.

Overall, an astonishing 90 percent of sales came from smartphones. Alibaba’s logistics partner Cainiao Network processed 1.3 billion delivery orders.

This year, more than 200,000 brands participated, including more than 22,000 brands from 78 countries. One million new products were launched. Alibaba encouraged brands to offer steep discounts on their products. The top-selling brands were Apple and Nike. Apparently trade tensions did not result in a consumer backlash against American companies, as some analysts predicted.

During the event, 299 brands surpassed $14.3 million each in gross merchandise volume. The top five countries selling to Chinese consumers via cross-border platforms were Japan, the United States, Korea, Australia, and Germany. As usual, electronics, fashion, and cosmetics and beauty items were best-sellers.

Source
PracticalEcommerce