"This year Alibaba’s 11.11 Singles' day sales grew 26% YoY to reach a record $38 Billion. Singles' day is a great reflection of China's domestic demand, which this year remained healthy despite an uncertain economic climate as a result of the US-China trade war. The online sale days have become key events, for which consumers are increasingly holding off their purchases in the expectation of getting a bargain. This is a characteristic of mature and commoditized markets where the sales are becoming highly seasonal. This is true especially for the two best-selling segments this year - electronics and fashion. Livestreaming of shopping festivals such as 11.11 is becoming popular, similar to the Super Bowl in the USA, with more than 87 million users tuned in. Endorsements and performances from celebrities, such as Taylor Swift, is the latest strategy to attract users to the online shopping festivals." - Tarun Pathak

(Source: Tech in Asia)

Alibaba Breaks Singles&#039; Day Record with $38B in Sales, Defying Slowdown

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Alibaba Breaks Singles' Day Record with $38B in Sales, Defying Slowdown