Economy

Alibaba Breaks Its Own Record at China Shopping Festival

Alibaba Breaks Its Own Record at China Shopping Festival

Beyond those factors, it's clear that mobile continues to be a massive force on Singles Day in a way that hasn't been replicated during any other shopping day, in any country.

For example, Amazon has a market cap of $427 billion, whereas Alibaba is at a "mere" $265 billion, but they account for almost the same amount of total retail in the USA and China, respectively (over $4,800 billion each).

Alibaba's annual shopping frenzy helped approximately 82 brands make 100 million yuan in sales for 2017, including Nike Inc., Xiaomi Corp. and Uniqlo Co. all coming out on top.

PChome subsidiary PChomestore Inc (商店街) said that orders on Saturday broke the company's daily order record - 430,000 - and that revenue ballooned 600 percent compared with the same day past year. "We could take the gala overseas very soon".

Range handset to sport Infinite Display; powered by Exynos 7885 chipset
From then, Samsung's been launching multiple Galaxy A smartphone models yearly, and it looks like this won't change in 2018. It is speculated that this particular model of the A series will bag an improved camera, in comparison to its predecessors.

As for the US retailing equivalents just after Thanksgiving, for years the sales figures in China on Singles Day have blown past the totals of Black Friday and Cyber Monday combined.

Ninety percent of transactions took place via the company's Alipay payment solution, up from 82 percent a year ago.

For the second year, Alibaba kicked off the shopping event with a televised and live-streamed gala featuring 27 brands offering exclusive product and enhanced VR experiences.

Jack Ma, the Chinese teacher-turned-business tycoon founded the Alibaba in 1999. "Shopping is entertainment nowadays", Palmer said.

Taylor Swift's Reputation Tour comes to the KFC Yum! Center in June
The music superstar will perform in Indianapolis on Saturday, Sept. 15, 2018, as part of her just-announced " Reputation " tour . But if you're a verified Swiftie, fans can purchase tickets in advance through Ticketmaster Verified Fan Program .

So over the weekend, the ninth version of this co-opted observance took place, and Alibaba says more than a million retailers around the world took part. China has 731 million internet users, up 6 per cent from 2016, according to government statistics.

At just past the halfway mark, the headline gross merchandise volume swept past last year's dollar total just shy of $18 billion.

The event gets shoppers around China scouting for bargains and loading up their online shopping carts, while delivery men - and robots - brace for an estimated 1.5 billion parcels expected over the next six days.

Lazada - incidentally majority owned by Alibaba - is of the more popular ecommerce sites that sells across the region comprising countries like Singapore, Malaysia, Thailand, and Indonesia.

Iran ballistic missile programme non-negotiable
During his visit to Dubai on Thursday, he referred to a missile which was sacked from Yemen and intercepted by Saudi Arabia earlier this month.

And on this day i.e. 24 hours Alibaba handled a transaction of 1.48 billion.


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