Wednesday 12/8/21
BUSINESS

China's Singles' Day discount shopping festival brings record sales

The unofficial holiday began as a tongue-in-cheek anti-Valentine's Day celebration for single university students - because the date November 11 consists only of ones
Alibaba offices. Photo: Alibabagroup.com.
Alibaba offices. Photo: Alibabagroup.com.

Chinese online merchants Alibaba and JD.com were among the businesses achieving new sales records on Friday as China marked Singles' Day, the world's biggest shopping festival.

There was less advertising and more emphasis on sustainability compared to previous years, but sales still rose, albeit not as much as in past years.

During the 11-day promotion that ended November 11, Alibaba posted an 8.45% year-on-year increase to 540 billion yuan (84 billion dollars) in sales.

Internet giant JD.com reported a 28.6% year-on-year increase to 349 billion yuan in sales.

Alibaba started the annual shopping festival in 2009 with special offers and massive discounts, and competitors followed suit.

Anti-Valentine's Day

The unofficial holiday began as a tongue-in-cheek anti-Valentine's Day celebration for single university students - because the date November 11 consists only of ones.

The great success of the discount battle saw the shopping extravaganza eventually extended to an 11-day event.

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