11.11 rings up $53.7 billion in sales for Alibaba, JD.com

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The world’s largest shopping event – China’s 11.11 or Singles Day – brought in RMB 373.3 billion (USD 53.7 billion) as China’s e-commerce giants Alibaba and JD.com saw orders soar over last year, including fresh food purchases.

Imported fresh food purchases doubled over last year, with customers buying more than 29,500 tonnes of items such as meat, vegetables, fruit, and seafood, including some 12 tonnes of live Canadian lobsters, according to the country’s second largest e-commerce company JD.com.

JD.com also opened its largest 7FRESH store – the group’s offline fresh food supermarket – to date in Langfang, Hebei Province, on Singles Day. The new store received more than 10,000 customers within a single hour on 11 November.

There is a noticeable shift in China toward quality over price, which we see in the growing numbers of consumers who are willing to pay more for branded and imported goods.” – Lei Xu, CMO of JD.com and CEO of JD Mall.

Consumer electronics like smartphones from both domestic and international brands were popular again this year, as were other consumer electronics, home furnishings and appliances. Fashion and in particular personal care products also continue to grow sharply.

Both JD.com and number one ranked Alibaba have noted the visible trend this year of Chinese online shoppers willing to pay more for imported, branded goods.

“There is a noticeable shift in China toward quality over price, which we see in the growing numbers of consumers who are willing to pay more for branded and imported goods,” said Lei Xu, CMO of JD.com and CEO of JD Mall.

“By establishing trust with consumers and brands, thanks to our zero-tolerance policy toward fakes and our innovations in areas such as blockchain traceability for product safety, JD is in a unique position to meet that demand.”

This year’s event for JD.com was the first time in which the e-commerce giant worked closely with brick-and-mortar retail partners, helping them join in on the shopping spree.

Alibaba, meanwhile, racked up sales of RMB 213.5 billion (USD 30.8 billion) in just the one day 11.11 sale event, up 27 per cent year-on-year, with more than one billion delivery orders processed by its logistics arm, Cainiao Network. This included more than 180,000 participating brands with over 40 per cent of consumers making purchases from international brands.

“Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles,” said Daniel Zhang, CEO of Alibaba Group.

This year also saw online shopping platform, Lazada participating in 11.11 as part of the Alibaba ecosystem, bringing the festival to consumers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.

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11.11 rings up $53.7 billion in sales for Alibaba, JD.com
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11.11 rings up $53.7 billion in sales for Alibaba, JD.com
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The world's largest shopping event – China's 11.11 or Singles Day – brought in RMB 373.3 billion (USD 53.7 billion) as China's e-commerce giants Alibaba and JD.com saw orders soar over last year, including fresh food purchases.
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