·Chinese(gb) ·English ·ฉบับภาษาไทย ·Tiếng Việt
WAPWeb Accessibility RSS
Home About Liuzhou Government Liuzhou News Live in Liuzhou Travel in Liuzhou Invest in Liuzhou Interact
Current Location:  Home > Liuzhou News > China
 
E-commerce boom highlights robust China consumption
 
Date:2017-11-13  Source:Xinhua

HANGZHOU, Nov. 12 (Xinhua) -- The record sales at major Chinese e-commerce sites Saturday offer an insight into the robust domestic demand in the world's second-largest economy.

November 11 has become an online shopping spree since 2009 when Alibaba's Tmall made its first online sales promotion. And now it is on par with "Black Friday," when most U.S. retailers online or offline offer promotions.

November 11 is known in China as Singles' Day because the date, 11-11, resembles four "bare sticks," a term used in China to refer to single people.

The world's biggest online shopping spree is a barometer of consumer behavior. It has attracted shoppers from around the world looking for bargains and multinational corporations seeking sales.

Trade at Alibaba, China's largest e-commerce platform, reached 168.3 billion yuan (25.4 billion U.S. dollars) on Saturday's shopping promotion.

Alipay, Alibaba's mobile payment platform, handled 1.48 billion payments from around the world, 41 percent more than last year.

A total of 812 million orders were generated in the 24 hours, up 23 percent.

More than 140,000 overseas brands participated, with 206 countries and regions involved in. Customers came from 225 countries.

JD.com, who started promotions at the beginning of this month, reported 127.1 billion yuan of orders. Kaola.com posted a 300 percent annual growth in sales on Saturday.

"From 52 million yuan in 2009 to 168.3 billion yuan this year, we have witnessed a rapidly growing domestic demand in the nine years," said Zhang Yong, CEO of Alibaba.

Zhang said the shopping spree on November 11 is just an epitome of the potential of China's consumption power.

China's strong domestic demand has brought opportunities for global sellers.

Nick Mann, sales director of the Australian health products brand Swisse, said Swisse sales doubled in each of the past four years.

With rising living standards, more Chinese consumers are buying quality non-daily necessities and the consumption habit is also driving the Chinese manufacturers to upgrade their products, said Zhang.

"The November 11 shopping spree is a commercial miracle even for the world," said Chen Qin, a programmer at Alibaba.

Many e-commerce sites have used AI and big data to predict consumers' shopping habits, prepare inventories of goods and help cope with the surge in orders. This could help reduce logistics costs and deliver goods to consumers earlier than usual, Chen said.

   Print   To Top    Close  
0

Related Articles

Sanxingdui culture-themed post office opens in SW China
China to promote space remote sensing development in 2018
China develops first offshore crane winch
BeiDou helps rescue over 10,000 fishermen in 5 years: spokesperson
China launches remote sensing satellites
Data processing lab to be built for FAST telescope
Chinese oracle bone inscriptions added to UNESCO world memory register
Chinese scientists develop fast-charging aluminum-graphene battery
China Focus: China's first domestic large amphibious aircraft makes maiden fl...
China's first commercial rocket launch firm raises 182 mln USD
   
Home  │ About Liuzhou  │ Site Map  │ Service and Privacy │ FAQ │ Download Forms   │ Contact Us
Copyright (C) 2006 The People's Government of Liuzhou Municipality,All Rights Reserved
Sponsored by Liuzhou Informational Leading Group Office (The Bureau Of The Information Industry Of Liuzhou)
Prepared by Liuzhou Network Management Centre Address:No. 66, Sanzhong Road, Liuzhou, China
ICP Certificate No.05009280