China's Singles' Day sales on course for new record

ONLINE-TRAFFIC-DURING-SINGLES-DAY

Singles Day, Alibaba's annual shopping gala, is going to get bigger than ever.

November 11 originated as a student holiday celebrating being single - sort of a counter-balance to Valentine's Day.

A year ago on Singles' Day NZ Post delivered nearly three parcels a second, but despite the commercial success of the shopping day, here and around the world, many Kiwis still don't know what it is.

China's biggest online shopping festival, Singles' Day, got underway at Sunday midnight local time, with e-commerce giant Alibaba saying 91.2 billion yuan ($13 billion) worth of goods were sold in the first hour, compared with 69 billion yuan past year.

Sales during China's Singles' Day, or 11.11 or Double 11, are traditionally larger than sales at the U.S. Black Friday and Cyber Monday combined.

The event is named after the calendar date 11/11, with the four ones seen as symbolizing the state of being single.

Liu noted that the first hour of 11.11 pre-sales for Tmall Global saw 113 per cent year-on-year rise in transactions and broke last year's sales record in just 1 hour 47 minutes on first day of pre-sales. It ranks first globally, with Cyber Monday from the USA coming in second place with an average sales number of 7.75 billion yuan.


Pinduoduo will be also holding its own "Singles' Day" events on the same day.

Alibaba anticipates 500 million shoppers will take part in the 11.11 event this year, up from about 100 million recorded last year.

This time past year, NZ Post was delivering an average of nearly three parcels a second.

"NZ Post is expecting another record online shopping season this year and will be upping our capacity to meet the huge number of parcels that are already starting to come through our network - including 185 additional flights, 27 additional trucks, 1,500 additional delivery runs, 200 extra vans and hundreds of extra people", Dobson said.

Chinese consumers will spend 54% more this year than in 2018, but 78% said they would think twice about buying US products due to loyalty to their country, AlixPartners found in a recent survey of more than 2,000 Chinese consumers.

Alibaba continues to dominate the online shopping industry, but not without competition.

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