The final stretch of China's shopping extravaganza Singles Day did not match up to its usual high sales count with e-commerce companies seeing a fall in sales
on Friday opted not to disclose the final sales tally of its annual Singles Day shopping festival for the first time since it started the event in 2009, only saying the results were in line with last year.
In a press release, it said the event had "delivered results in line with last year's GMV performance despite macro challenges and COVID-related impact." Citi analysts said this week they were conservatively forecasting Alibaba's GMV for the event to range from 545 billion yuan to 560 billion yuan , with growth of 0.9% to 3.6%.
Alibaba said its Tmall marketplace offered Singles Day deals on more than 17 million products, 3 million more than last year, with a record-matching 290,000 brands participating.
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China Singles Day events show 4.7% sales slide in first half of last day -research firmAlibaba Group Holding and other Chinese e-commerce firms holding Singles Day shopping events together logged a 4.7% decline in sales for the first half of the final day, a research firm said.
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Final stretch of China Singles Day shopping festival lacks sales oomphChina's shopping extravaganza Singles Day did not match up to its usual high sales count with Alibaba and other Chinese e-commerce companies seeing a 4.7% fall in sales for the first 12 hours of the final day
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Alibaba's Singles Day shopping event set to end with subdued sales and no fanfareAs Alibaba Group wraps up the world's biggest online shopping festival on Friday, the operative word seems to be flat - potentially flat sales and flat in tone with the Chinese e-commerce giant not even holding its usual gala show.
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China's Singles Day sales could top 1 trillion yuan even as the economy cools | CNN BusinessChina's Singles Day is the world's biggest shopping event, known for regularly smashing sales records.
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China's muted Singles' Day shopping fest expects slow growthHONG KONG (AP) — China’s biggest online shopping festival, known as Singles’ Day, is typically an extravagant affair as Chinese e-commerce firms like Alibaba and JD.com ramp up marketing campaigns and engage top livestreamers to hawk everything from lipstick to furniture as they race to break sales records of previous years.
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