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This translates to … The report also examines how the knowledge that a COVID-19 vaccine will soon be available throughout the U.S. could affect their perceptions. Last year's headline performer was singer Taylor Swift. China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. Alibaba annual revenue for 2020 was $71.985B, a 28.2% increase from 2019. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. Alibaba Group Announces March Quarter and Full Fiscal Year 2019 Results Hangzhou, China, May 15, 2019 – Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter and fiscal year ended March 31, 2019. And Estee Lauder’s flagship store on Alibaba’s Tmall platform was the first to surpass 1 billion yuan in sales, the e-commerce company said. They saved money during. Alibaba started offering Singles Day discounts in 2009 and has since turned the event into a bonanza of online shopping. It's been a strange year for Chinese consumers. About: The PYMNTS Subscription Bundling Report, surveyed a census-balanced panel of 2,962 U.S. consumers to gauge how their attitudes toward bundled subscription services have changed during the pandemic, especially those offered by companies in the streaming sector. Wang also expects luxury goods will sell really well, because Chinese usually buy them while traveling overseas. For example, a shopper who usually buys Maybelline makeup, he said, might instead spend a bit more to buy stuff from Yves Saint Laurent on sale. The figure includes sales generated on November 1. 84 in the Digital Commerce 360 Europe 500, said mainland Chinese stores have returned to growth, joining luxury rival LVMH in pointing to light at the end of the tunnel even as a lockdown-induced slump … However, Alibaba’s Singles Day success was overshadowed by a precipitous 9.8 percent drop in its stock on the Hong Kong Stock Exchange. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. For example, the definition of “relative market” means that companies in a “dominant position” if they control more than 50 percent of the market would come under the new regulations. The event has also gained traction outside. Alibaba’s Singles Day performance on Wednesday (Nov. 11) shows that the Chinese consumer is back — big time. We reported yesterday that Alibaba is well on its way to create a history. Alibaba set a new sales record for the annual Singles Day shopping event. "That's also why it's the first year that luxury brands are heavily involved in Singles Day. “Legal experts have long criticized (in Chinese) the law because it was designed to regulate companies in traditional industries and, in most cases, did not apply to companies operating on the internet, an increasingly important segment of the country’s economy,” said TechNode. For brands and retailers scrambling to recover from months of shuttered shops and consumers hunkered down indoors, the lucrative Chinese shopper is a much-needed bright spot. 2020 is perhaps the most unique and different year of our lifetime. ", Oliver Wyman found that while foreign brands continue to dominate popular Singles Day categories such as cosmetics and infant formula, a growing number of Chinese shoppers will buy local brands. "When pandemic makes international travel impossible, consumers will pivot these purchases domestically and particularly online," she said. “More and more, Alibaba is becoming synonymous with everyday consumption in China, growing our base And yet the China Consumers Association, a state-backed national consumer rights group, urged for "rational consumption" during the upcoming Double 11 shopping season, according to statements it issued last week. "It's not patriotism ... it's just the technology, design and quality are better, therefore there is just more confidence" in Chinese brands, Penhirin said. January. Disclaimer. It takes place on November 11, a date that was chosen because it is written as four ones, or singles. Essentially, the new rules update the old antimonopoly laws which were passed in 2008. State-run news network CCTV called for "fewer tricks" by shopping platforms during the Singles Day shopping season, saying they should not cheat consumers. Import & Export on alibaba.com Alibaba.com is offering our special Super September promotion from September 1-30, 2020. Penhirin predicted the event would be massive for participating brands and retailers, because shoppers are using it as an opportunity to treat themselves. More than $7.2 billion was spent on Black Friday; Cyber Monday generated $9.4 billion. Alibaba Group Holding Ltd. BABA, -1.68% said late Wednesday that its Singles Day sales event generated $74.1 billion in gross merchandise volume … Another reason Chinese are buying local is because some remain cost conscious post-pandemic, according to analysts at consultancy Bain & Company. Many companies "are doubling down" on their Singles Day sales events, according to Wang. About 20% of these are Playground, 1% are Animatronic Model, and 3% are Coin Operated Games. A total of 250,000 brands and five million sellers are expected to participate in the 21-day sale festival that runs until November 11. Celebrities often make appearances at the so-called 11.11 Gala, usually to hawk their own brands and products. Updated 11:56 AM ET, Thu August 20, 2020 . Alibaba smashes 2019 11.11 record by posting $56b in 2020 GMV with 23 hours to go. “[Singles Day] has historically served as a very accurate indicator for what’s happening in the following year for retailers, brands as well as consumers,” said Jonathan Cheng, head of China retail at Bain & Co. “For this year, with COVID, it’ll become more important. This year, the company added an extra three days of sales — which took place from November 1 through 3 — because of the pandemic, according to Alicia Yap, managing director at Citigroup Global Markets Asia. “The new rules expanded the parameters for determining market share to include factors such as transaction volume, user base, and page views.”, NEW PYMNTS DATA: THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT. Accessed Aug. 12, 2020. In the fiscal year ending March 31, 2020, Chinese e-commerce corporation Alibaba Group recorded consolidated revenues of around 509.7 billion yuan. The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. Alibaba Sales … This year, it's Katy Perry, who was virtually piped into a Shanghai arena late Tuesday evening. The aim of China’s new regulatory proposal is reportedly “to prevent and stop monopolistic practices in internet platforms’ economic activity, to lower compliance costs for law enforcers and business operators, to enhance and improve antitrust regulations on the platform economy, to protect market fairness, to ensure the interests of consumers and society, and to encourage the healthy and continuous development of the platform economy.”. However, the company technically started Singles “Day” on Nov. 3 this year, so the totals reflect more than a week of sales rather than just 24 hours. Historical PS ratio values for Alibaba (BABA) over the last 10 years. In China, Alibaba once again held a glitzy live concert counting down the hours until the main sales day starts. September is a time of renewal. Pandemic dented the economies all over the world badly but luckily for Alibaba, things could not have been any better. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Alibaba.com offers 445 2020 playground sale products. Still, that performance was higher than the five days of U.S. online sales seen last year between Thanksgiving and Cyber Monday. Even though many other online platforms and stores take part in Singles Day, it is still closely tied to Alibaba. Import & Export on alibaba.com Together both JD.com and Alibaba brought in over $68 billion in Singles Day sales last year. Alibaba sales passed $74 billion.This is almost double the number of Singles’ Day sales last year. Hong Kong (CNN Business)China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. “Over the past 12 years, innovation … (The GMV for 2020 counts sales made on Nov. 1 through 3 and Nov. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. AliExpress Coupon Codes and Promo Codes January 2020. By Paul R. La Monica, CNN Business. Updated 0231 GMT (1031 HKT) November 12, 2020. All rights reserved. Alibaba and Singles Day 2020 Alibaba continues its growth trajectory as it reports mind-boggling sales figures. So shoppers are approaching Singles Day with an indulgent mindset. As for Singles Day, this year’s strong sales were notable not only for the records broken but also as a barometer of the Chinese consumer’s overall spending power. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival However, the company technically started Singles “Day” on Nov. 3 … U.S. shoppers spent a record $28.49 billion online during that period, according to Adobe Analytics data. A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China November 11, 2020. The current P/S ratio for Alibaba as of January 05, 2021 is . According to Bloomberg, “during the first 111 minutes of sales on Nov. 1, Nike Inc. and Apple Inc. were among 100 brands that reported 100 million yuan ($15 million) in transactions. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. But it is up more than 20% so far in 2020. All times are ET. An opportunity to start anew, to reinvent some aspect of your life, to refocus on tasks that got forgotten in the heat and lazy days of summer. Zheping Huang. Chinese shoppers "continue to spend like crazy," said Oliver Wyman partner Jacques Penhirin, who led the survey. Alibaba Group Holdings Ltd. "Alibaba Group Will Announce June Quarter 2020 Results on August 20, 2020." Alibaba annual revenue for 2018 was $39.898B, a 73.51% increase from 2017. Livestreaming is expected to be a "key growth driver," for this year's Double 11, said Wang, of Forrester. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. 11.) "Now it's time to be indulgent," Penhirin said. During November 1 to 11, 2020, also known as Singles' Day shopping festival, Chinese consumer spending on Alibaba’s e-commerce platforms amounted to 74.1 billion U.S. The remaining 14% of survey respondents said they will spend less on Singles Day, because the pandemic had brought too much uncertainty for them. 1 and No. Alibaba Singles Day 2020 … The Chinese government has said it is eager to stimulate domestic consumption to spur the country's economic growth. That’s up from $38.4 billion last year. A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China, Nov 11, 2020. Singles Day regularly racks up bigger sales than Black Friday and Cyber Monday combined. Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Livestreaming had been around in China for years, but really took off during lockdown. Promotion Period: 04-01-2020 – 11-01-2020; January 4 – SUPER VALUE DEALS – Specially for you January 6 – BIG CLEARANCE DISCOUNTS – Deals over 70% off January 6 – MUST-HAVES – Hot items, huge discounts! Katy Perry sang at the pre-festival concert (appearing virtually), while U.S. brands from Apple to Nike made strong showings. Related Alibaba's Singles' Day Has Wrapped Up -- Here's How Much the Event Generated in Sales And recent criticism of the annual event by government groups and state media could signal that Ma is still out of favor with Beijing. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide . Alibaba annual revenue for 2019 was $56.152B, a 40.74% increase from 2018. A survey from market research firm Oliver Wyman found that 86% of Chinese consumers are willing to spend the same as or more than what they did during last year's Singles Day. November 5, 2020, 6:50 AM EST Updated on November 5, 2020, 8:58 PM EST ... Alibaba had benefited from stronger sales in its home market, which had led the global recovery from Covid-19. Alibaba boasts over US$70b sales as first post-virus Singles’ Day nears end Wednesday, 11 Nov 2020 04:51 PM MYT A logo of Alibaba Group is seen during Alibaba Group’s 11.11 Singles’ Day global shopping festival at the company’s headquarters … Alibaba, China’s biggest (and lately its most controversial) company, said Singles Day sales totaled more than $74.1 billion. This year, it's taking on new meaning as a showcase for the country's success in battling the Covid-19 pandemic. May 22, 2020, 7:15 AM EDT Updated on May 22, 2020, 10:17 AM EDT 4:24. Alibaba owns and operates Taobao and Tmall, which hold the No. Singles Day — Alibaba’s popular shopping holiday that takes place every Nov. 11 (“11-11”) in China and some other countries — saw online sales explode past last year’s sales totals. The regulations will also hit Alibaba’s Ant Group, which took a beating last week after the government suspended its planned initial public offering (IPO). Compared to the same timeframe as last year, this year's haul represents an increase of 26%, the company said. "China's economy has seen a strong recovery and Chinese consumers' purchase behaviors have already returned to pre-pandemic levels, if not higher," according to Xiaofeng Wang, analyst with market research firm Forrester. Sales and marketing expenses – Sales and marketing expenses in the quarter ended March 31, 2020 were RMB12,179 million (US$1,720 million), … Nov 11, 2020 Alibaba Group Holdings' (BABA) - Get Report Singles Day shopping event has topped $75 billion in total sales, a huge increase from … A few more days of huge discounts help "brands or merchants recoup lost sales during the lockdown and [helps] global brands gain access to the stronger demand from Chinese consumers," Yap wrote in a note last week. But a spat between a tech billionaire and Beijing regulators likely won't affect how Chinese consumers shop, according to Penhirin of Oliver Wyman. Alibaba’s shares had already dropped sharply last week after that event. Factset: FactSet Research Systems Inc.2018. All rights reserved. The event — also known as Double 11 — is pegged to China's informal, anti-Valentine's Day holiday that celebrates people who aren't in relationships. Alibaba sales soar but US crackdown may be looming. January 1, 2020 New Year’s Day Sales; January 6 – WINTER SALE – Clearance up to 60% off. Visible Alpha. In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT, Alibaba On Facilitating Cross-Border Trust To Boost International Commerce, Alibaba Bridges Cross-Border B2B Buyer-Seller Trust Gap, Alibaba Retail Exec: Chinese Consumers Spending More Amid Pandemic, MercadoLibre Banking License Hints At New Arrow In Quiver Vs. Amazon, Amazon, Walmart Benefit As More Than 1 Million Food Stamp Shoppers Buy Online. Chinese government halts Ant Group's giant IPO, Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger, positive economic growth for the second quarter in a row, Chinese shoppers are staying online. And if you look at China, which is the first one to be coming out of COVID, it’s going to be an indicator for other countries as well.”. Revenue at Alibaba’s cloud computing business, a focus area for the company, jumped 60% to 14.9 billion yuan. The event seems to have established itself as just that indicator — and American brands and celebrities were part of the action. 2 spots in the ranking for Digital Commerce 360 Online Marketplaces.. On the other hand, Burberry Group Plc, No. That's great news for JD.com, Alibaba is spending more than $3 billion to dominate online groceries in China, A multibillion-dollar shopping obsession goes mainstream in China, slammed the brakes on the highly anticipated IPO of Ant Group, China halts Ant Group's giant IPO after dust up with billionaire Jack Ma. It's like the Shopping Channel or QVC on steroids: Shoppers tune in to watch influencers peddling everything from cars to mangoes, and can score big discounts during the live streams. "Consumers don't care, honestly," he said, adding that while financial markets might be paying attention to the drama, consumers will think that "as long as I get a good deal, it's none of my business.". Accessed Aug. 12, 2020. Alibaba Sales Growth Plumbs New Lows While Uncertainty Escalates By . Alibaba revenue for the twelve months ending September 30, 2020 was $83.193B, a 28.15% increase year-over-year. That forecast, combined with the success of the 2020 Singles Day sales, suggests that the Chinese economy is recovering well from the pandemic. China's Alibaba reported a better-than-expected quarterly revenue on Thursday, boosted by record sales during its annual Singles' Day shopping blitz and growth in its cloud computing business. A wide variety of 2020 playground sale options are available to you, such as is_customized, material, and category. Hangzhou, China, November 12, 2020 - Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) today announced the 2020 11.11 Global Shopping Festival generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019. 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Domestic consumption to spur the country 's economic growth ( appearing virtually ) while. Counting down the hours until the main sales Day starts Leads from our award-winning International Trade.! For alibaba sales 2020 was $ 71.985B, a 40.74 % increase from 2019 Group Plc, No ) shows the!

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