ALibaba's Single Day Sales Hit a Record $ 25 Billion In Just 24h
E-commerce firms Alibaba and its rival JD.com recorded sales of $25.3 billion and$20 billion, respectively, in the 8th edition of Singles day in China. SinglesDay1111
The Chinese consumer is everything now to the global economy.
All western deals and Amazon Prime Day are overshadowed by Asia's population density and e-commerce native shoppers.
2017 has been JD.com's coming out party. Even as in 2018 Apple and Amazon will reach 1-Trillion dollar status valuations, China's awakening changes the future of technology forever.
Since these firms can empower SMBs it's exciting to witness the future of retail. AlibabaVsAmazon
11.11 Single's Day is luring more global brands as cross border shopping continues to climb. Globalization is real. While Walmart struggles to become a fashion retailer to appeal to a higher income demographic, Chinese competitors are way ahead of the game.
This year, apparel is the most sought-after Singles Day category, followed by household supplies and footwear, according to a survey by Fung Global Retail & Technology.
All U.S. shopping days combined total around U.S $9.2 billion. This shows how Western firms will have a hard time competing vs. Chinese firms .
Why the west doesn't adopt Single's day is beyond my comprehension. It aligns with the Millennial experience of more people choosing to live alone.
Even Amazon's decision to do Amazon Prime day, both the name of the event and the time of the year is weird to me.
Black Friday and Cyber Monday are sort of outdated too, they all just blur into one. China fuses entertainment and retail better than the West, it's really that simple. That Chinese firms are now going global successfully, means its time for Western firms to rethink their strategy.
Apple makes a defective product for $375 and sells it for $1200, any normal company would go bankrupt for doing this. While Amazon is on the rise, Alibaba - Tencent - JD and other Chinese firms are rising even faster.