Alibaba shoppers shatter Singles Day record
In this article (5)
Singles Day on Nov. 11 is an unofficial Chinese holiday. The holiday has surpassed Cyber Monday as the largest online shopping day of the year globally.
What Happened: Alibaba Group Holding owns the trademark to Singles Day and is the largest participating retailer.
Yahoo Finance reports that Alibaba has added three additional days to the 2020 Singles Day holiday shopping season. The added dates are Nov. 1, 2 and 3.
Shoppers can also get an early look Saturday with a countdown gala.
Alibaba had over 1.3 billion orders in the 24-hour event in 2019.
Rival JD.com holds a similar Singles Day event. JD.com reported Singles Day sales of $29.2 billion in 2019 spread out over 11 days.
An estimated 300 million new users are expected to participate in the shopping event in 2020. Alibaba segment Tmall Global is expected to add 2,600 new brands for the event including Prada, Cartier and Chloe.
Alibaba adding several days could break records.
A survey from AlixPartners suggests spending will rise, with 39% of consumers saying they would spend more than in 2019.
Questions & Answers
Q.Which company owns the official trademark for the Singles Day event?
Which company owns the official trademark for the Singles Day event?
Alibaba Group Holding owns the trademark for Singles Day. They are also the largest participating retailer in the annual online shopping event, which takes place on November 11th.
Q.How many additional shopping days has Alibaba added to the Singles Day event in 2020?
How many additional shopping days has Alibaba added to the Singles Day event in 2020?
Alibaba has added three additional days to the 2020 Singles Day shopping season. These extra dates are November 1st, 2nd, and 3rd, extending the overall promotional period for shoppers.
Q.What were the reported sales figures for rival JD.com during Singles Day in 2019?
What were the reported sales figures for rival JD.com during Singles Day in 2019?
JD.com reported Singles Day sales of $29.2 billion in 2019. Unlike Alibaba's 24-hour event, these sales figures for JD.com were spread out over a period of 11 days.
Q.Are new consumers expected to participate in the Singles Day shopping event in 2020?
Are new consumers expected to participate in the Singles Day shopping event in 2020?
Yes, an estimated 300 million new users are expected to participate in the shopping event in 2020. This anticipated increase in participation could contribute to new sales records.
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