Singles’ Day sales breaks records

SALES from Alibaba’s ‘Singles’ Day 2018’ totalled 213.5 billion yuan (HK$239 billion), setting another record as the world’s biggest online shopping event celebrated its 10th anniversary.
Gross merchandise volume hit 10 billion yuan in the first two minutes and five seconds. Sales passed 168.2 billion yuan (HK$189.36 billion) after 15 hours and 49 minutes, exceeding the sales record in 2017.
Singers, including Mariah Carey and Jay Chou Chieh-lun (周杰倫), performed to kick off the gigantic sales event.
The windfall came amid gloomy forecasts about the world’s second-largest economy, which is in the middle of a trade war with the United States, a slumping stock market and slowing growth.
Alibaba founder Jack Ma Yun (馬雲) said in a video message that Singles’ Day “is not a day for discounts, but a day of gratitude. It’s the retailers using the best products and best prices to show their gratitude to our consumers.”
A manager for two shops on Alibaba’s Tmall (天貓) and Taobao (淘寶) platforms said his umbrella company hired additional staff to serve customers, covering three shifts in 24 hours.
Meanwhile, 457 couples registered to get married in Hong Kong on 11 November – more than double the daily average of 137 – despite it being dubbed ‘Singles’ Day’.

(This article is published on Junior Standard on 19 November 2018)

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