3 Phenomenon Show How Alibaba Generate Crazy $17.8bn on 'Singles Day'

Summary: Alibaba has generated a huge $17.8 billion(RMB 120.7 billion) in sales during China’s Singles Day, smashing its own record by 32%.

11.11 has become a signal festival on the Chinese and even the global retail calendar. Millions of shoppers press on “buy now” buttons on their cellphone and PCs for 24 hours, to get a lower price of needed goods.

Following is 3 unique phenomenon as a glimpse of tomorrow’s retail.

global shopping

11.11 is not only a purely Chinese affair, but also a global shopping festival. According to Alibaba, 235 countries and regions completed cross-border transactions during the festival, with thousands of international brands participating. Adidas, Apple, Nike, Pampers, Phillips, Siemens and Uniqlo were all among the most popular in their respective product categories.

After 90’s become main source of consumption

“The young generation born after 1990 is becoming the main source of consumption,” Alibaba CEO Daniel Zhang said. “They have a vastly different lifestyle and consumption pattern.”

Logistic Services like bullet trains help delivering

This year, 170 high-speed trains will be used to help e-commerce platforms deliver goods between Nov 11 and 20, stopping at 505 cities, to answer the growing demand for logistics services.

Over 20 billion packages were delivered by all logistics channels last year, and Alibaba's research department predicts the number will reach 100 billion in the coming five to eight years.

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International buyers are granted with the credit line within 90-120 days payment terms after GTR assessment and place orders towards intended suppliers with the credit line. So, international buyers could improve their purchasing capabilities, promoting the usage rate of capital and will also win larger Chinese markets.

And GTCA (Great Tao Credit Assurance Program), based on the credit, intends to assist the trading parties in providing a level of trust and resolving risk issues in trades. This program also aims at providing credit endorsement for international buyers on behalf of Chinese international trade companies, and offering an all-round transaction assurance to trading parties for fast order confirmation.

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