NewCalling all the single ladies: Alibaba’s Singles’ Day shopping spree set to hit new sales record despite slowdown in China’s retail growth
Online shopping giant to bring in new brands, offline retailers and promote products overseas for Chinese consumers’ biggest annual shopping spree on November 11
With giant billboards in subways, posters plastered in elevators, advertisements splashed across newspapers and magazines, and commercials repeatedly being screened during primetime TV and radio programmes, it’s hard to miss the arrival of China’s “Singles’ Day” shopping festival.
The online shopping extravaganza on November 11, started seven years ago by e-commerce giant Alibaba, has become Chinese consumers’ biggest annual shopping spree.
READ MORE: Singles' Day explained: How China's celebration of the lonely became a shopping orgy bigger than Christmas
Despite a gloomy economic outlook as growth slows in the country’s retail industry, this year’s Singles’ Day shopping festival is expected to set yet another new record in takings.
Last year, Alibaba saw a staggering 57.1 billion yuan (HK$69.5 billion) of sales on T-mall and Taobao on November 11. Another major e-commerce site, JD.com, sold out nearly 40 million pieces of products in 24 hours that day.
