The Strategist

Sales on online shopping sites on Singles Day in China total nearly $157B



11/14/2022 - 12:42



According to data from the Chinese research firm Syntun, internet sales on Singles Day in China totaled 1.1 trillion yuan ($156.9 billion).



MaxPixel
MaxPixel
Every year on November 11, China observes SIngles Day. 2009 saw the debut of the 27-merchant Alibaba sale event.

According to Syntun statistics, the overall sales volume on electronic platforms throughout the entire sales festival was 934 billion yuan ($131.4 billion), with Tmall emerging as the market leader with a share of 58.03%, followed by JD.com and Pindo. At the same time, preliminary sales data for this year has not yet been released by Alibaba. Additionally, JD.com, the second-largest online retailer, has not provided its data.

The revenue from sales of goods and services on websites owned by the Alibaba Group in 2021 totaled 540.3 billion yuan, or almost $ 76 billion.

Cell phones, digital equipment, apparel, cosmetics, food and beverages, furniture, and toys were all popular among consumers in 2022.

source: bloomberg.com




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