News Worms
News Worms


Alibaba sales surge to $5 billion in 15 minutes on Singles Day

Alibaba sales surge to $5 billion in 15 minutes on Singles Day

Every year on November 11 (11/11), Chinese retailers offer Black Friday-like discounts for those celebrating their independence.

Alibaba began launching "Double 11" deals in 2009 just as online shopping was starting to explode and trademarked the term "Singles Day" by 2012.

"The run-up to this year's 11.11 looks solid, with 140,000 brands participating, of which 60,000 are global (there were ~11,000 global brands on Tmall at last year's event)", Youssef Squali, an analyst at SunTrust Robinson Humphrey said in a note to clients.

The sales were kicked off by the actress Nicole Kidman and Alibaba founder Jack Ma in a Super Bowl style gala.

More than 130 United Kingdom brands are taking part including Burberry, Marks & Spencer, New Look and LK Bennett.

This year, some Japanese companies plan to launch products and run aggressive sale promotions on China's leading online shopping sites, like those operated by Alibaba. And a year ago, it took the Chinese e-commerce giant a full hour to reach $5 billion in transactions.

That's absolutely massive and puts U.S. shopping holidays like Black Friday and Cyber Monday to shame.

In 2009, Alibaba made a decision to turn Singles Days into a cybershopping event along the lines of Black Friday in the United States. Alibaba has not only transformed consumer behavior in China, but merchant behavior as well.

Worldpay, the global payments company, said it expects British companies to cash in as the weak pound attracts "an influx of Brexit bargain hunters".

Other retailers will be trying to replicate Alibaba's success on Singles Day.

follow

editors' picks

November 11, 2017
Man rams vehicle into students in Toulouse, arrested
Initial information about the conditions of the injured - identified by authorities only as Chinese students - conflicted. A vehicle has been driven into three students near the French city of Toulouse, leaving a woman in a serious condition.

November 11, 2017
Comedian Louis CK says allegations of sexual misconduct are true, expresses remorse
Another woman, comedienne Abby Schachner , said C.K. was clearly masturbating while she was on the phone inviting him to her show. The actor's appearance on The Late Show With Stephen Colbert - which he was scheduled to tape Friday - was also canceled .

November 10, 2017
European Union autumn forecast 2017: looking good
France, the other eurozone country under a deficit procedure, will also decrease its deficit, to 3 percent this year. Moscovici said of the secessionist move that Madrid has moved to quash.

November 10, 2017
OnePlus 5T won't have wireless charging and here's why
Another given reason was that users won't be able to work on the device while it is kept on wireless charging pads. It also stays cool so you won't have to worry about overheating even if you are using the phone while charging.

November 10, 2017
Veterans honored this week
All of the local schools want to help recognize, celebrate and honor all of local veterans and thank them for their service. She said Veteran's Day is a big deal in Nevada and it is important every year to make veterans feel special and recognized.

November 10, 2017
Terry Crews Files Police Report For Sexual Assault
Actor Terry Crews ("Brooklyn Nine-Nine") has filed a police report to the LAPD alleging sexual assault , TMZ first reported Wednesday.

November 10, 2017
Google's Files Go Smart File Manager has been Accidentally Leaked
Another additional feature is the ability to transfer files from your phone to a friend's handset in the immediate vicinity. To use the app, both sender and receiver need to have the app opened and use the Send and Receive file option.

November 10, 2017
Group Says Fidget Spinners Are Dangerous
When USPIRG notified Target about the lead levels it detected, the retailer said it wouldn't take the spinners off the shelves. The Fidget Wild Premium Spinner Brass center circle tested for 33,000 parts per million (ppm) of lead.

November 10, 2017
Human at fault in accident with Las Vegas driverless shuttle
Before it crashed, dozens of people had lined up to get a free trip on a 0.6-mile loop in downtown Las Vegas. California recently approved rules that will let autonomous vehicles drive without anyone behind the wheel.

November 09, 2017
Demonetisation: Rahul Gandhi terms PM Modi 'democratically elected dictator'
Targeting Gandhi, Union minister Ravi Shankar Prasad said he is turning Indian National Congress into "Indian Fake News Congress". Misusing pictures for defaming something is not new to the Congress and this is what it has done to "defame" Gujarat.