For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide . And yet the China Consumers Association, a state-backed national consumer rights group, urged for "rational consumption" during the upcoming Double 11 shopping season, according to statements it issued last week. Penhirin predicted the event would be massive for participating brands and retailers, because shoppers are using it as an opportunity to treat themselves. Import & Export on alibaba.com But it is up more than 20% so far in 2020. Another reason Chinese are buying local is because some remain cost conscious post-pandemic, according to analysts at consultancy Bain & Company. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. Alibaba Singles Day 2020 … 11.) Compared to the same timeframe as last year, this year's haul represents an increase of 26%, the company said. “The new rules expanded the parameters for determining market share to include factors such as transaction volume, user base, and page views.”, NEW PYMNTS DATA: THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT. It's been a strange year for Chinese consumers. Alibaba boasts over US$70b sales as first post-virus Singles’ Day nears end Wednesday, 11 Nov 2020 04:51 PM MYT A logo of Alibaba Group is seen during Alibaba Group’s 11.11 Singles’ Day global shopping festival at the company’s headquarters … International hotel groups Marriott International Inc. and Accor SA also passed the 1 billion yuan transaction mark for the first time.”. Alibaba.com is offering our special Super September promotion from September 1-30, 2020. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. And recent criticism of the annual event by government groups and state media could signal that Ma is still out of favor with Beijing. Alibaba Sales … Updated 11:56 AM ET, Thu August 20, 2020 . And Estee Lauder’s flagship store on Alibaba’s Tmall platform was the first to surpass 1 billion yuan in sales, the e-commerce company said. About: The PYMNTS Subscription Bundling Report, surveyed a census-balanced panel of 2,962 U.S. consumers to gauge how their attitudes toward bundled subscription services have changed during the pandemic, especially those offered by companies in the streaming sector. Singles Day — Alibaba’s popular shopping holiday that takes place every Nov. 11 (“11-11”) in China and some other countries — saw online sales explode past last year’s sales totals. Revenue at Alibaba’s cloud computing business, a focus area for the company, jumped 60% to 14.9 billion yuan. Even though many other online platforms and stores take part in Singles Day, it is still closely tied to Alibaba. Alibaba sales soar but US crackdown may be looming. September is a time of renewal. Alibaba started offering Singles Day discounts in 2009 and has since turned the event into a bonanza of online shopping. A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China, Nov 11, 2020. That’s up from $38.4 billion last year. 84 in the Digital Commerce 360 Europe 500, said mainland Chinese stores have returned to growth, joining luxury rival LVMH in pointing to light at the end of the tunnel even as a lockdown-induced slump … Alibaba set a new sales record for the annual Singles Day shopping event. Together both JD.com and Alibaba brought in over $68 billion in Singles Day sales last year. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival However, the company technically started Singles “Day” on Nov. 3 … "That's also why it's the first year that luxury brands are heavily involved in Singles Day. Alibaba’s Singles Day performance on Wednesday (Nov. 11) shows that the Chinese consumer is back — big time. November 5, 2020, 6:50 AM EST Updated on November 5, 2020, 8:58 PM EST ... Alibaba had benefited from stronger sales in its home market, which had led the global recovery from Covid-19. Accessed Aug. 12, 2020. Sales and marketing expenses – Sales and marketing expenses in the quarter ended March 31, 2020 were RMB12,179 million (US$1,720 million), … They saved money during. All rights reserved. That forecast, combined with the success of the 2020 Singles Day sales, suggests that the Chinese economy is recovering well from the pandemic. Promotion Period: 04-01-2020 – 11-01-2020; January 4 – SUPER VALUE DEALS – Specially for you January 6 – BIG CLEARANCE DISCOUNTS – Deals over 70% off January 6 – MUST-HAVES – Hot items, huge discounts! An opportunity to start anew, to reinvent some aspect of your life, to refocus on tasks that got forgotten in the heat and lazy days of summer. Still, that performance was higher than the five days of U.S. online sales seen last year between Thanksgiving and Cyber Monday. This year, it's Katy Perry, who was virtually piped into a Shanghai arena late Tuesday evening. Pandemic dented the economies all over the world badly but luckily for Alibaba, things could not have been any better. It takes place on November 11, a date that was chosen because it is written as four ones, or singles. Related Alibaba's Singles' Day Has Wrapped Up -- Here's How Much the Event Generated in Sales All rights reserved. Alibaba revenue for the twelve months ending September 30, 2020 was $83.193B, a 28.15% increase year-over-year. This year, it's taking on new meaning as a showcase for the country's success in battling the Covid-19 pandemic. Accessed Aug. 12, 2020. So shoppers are approaching Singles Day with an indulgent mindset. The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. U.S. shoppers spent a record $28.49 billion online during that period, according to Adobe Analytics data. January. A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China November 11, 2020. Tmall, Alibaba's online marketplace, will open its annual shopping bonanza known as Singles' Day sale on October 21, the company announced on Tuesday. Visible Alpha. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. “Legal experts have long criticized (in Chinese) the law because it was designed to regulate companies in traditional industries and, in most cases, did not apply to companies operating on the internet, an increasingly important segment of the country’s economy,” said TechNode. Alibaba annual revenue for 2019 was $56.152B, a 40.74% increase from 2018. Updated 0231 GMT (1031 HKT) November 12, 2020. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. Alibaba annual revenue for 2018 was $39.898B, a 73.51% increase from 2017. According to Bloomberg, “during the first 111 minutes of sales on Nov. 1, Nike Inc. and Apple Inc. were among 100 brands that reported 100 million yuan ($15 million) in transactions. Alibaba and Singles Day 2020 Alibaba continues its growth trajectory as it reports mind-boggling sales figures. Last year's headline performer was singer Taylor Swift. 2 spots in the ranking for Digital Commerce 360 Online Marketplaces.. On the other hand, Burberry Group Plc, No. ", Oliver Wyman found that while foreign brands continue to dominate popular Singles Day categories such as cosmetics and infant formula, a growing number of Chinese shoppers will buy local brands. May 22, 2020, 7:15 AM EDT Updated on May 22, 2020, 10:17 AM EDT 4:24. "When pandemic makes international travel impossible, consumers will pivot these purchases domestically and particularly online," she said. The figure includes sales generated on November 1. “Over the past 12 years, innovation … For brands and retailers scrambling to recover from months of shuttered shops and consumers hunkered down indoors, the lucrative Chinese shopper is a much-needed bright spot. By Paul R. La Monica, CNN Business. Hangzhou, China, November 12, 2020 - Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) today announced the 2020 11.11 Global Shopping Festival generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019. However, Alibaba’s Singles Day success was overshadowed by a precipitous 9.8 percent drop in its stock on the Hong Kong Stock Exchange. Historical PS ratio values for Alibaba (BABA) over the last 10 years. In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. And if you look at China, which is the first one to be coming out of COVID, it’s going to be an indicator for other countries as well.”. Livestreaming is expected to be a "key growth driver," for this year's Double 11, said Wang, of Forrester. However, the company technically started Singles “Day” on Nov. 3 this year, so the totals reflect more than a week of sales rather than just 24 hours. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. The Chinese government has said it is eager to stimulate domestic consumption to spur the country's economic growth. 1 and No. Most stock quote data provided by BATS. This year, the company added an extra three days of sales — which took place from November 1 through 3 — because of the pandemic, according to Alicia Yap, managing director at Citigroup Global Markets Asia. As for Singles Day, this year’s strong sales were notable not only for the records broken but also as a barometer of the Chinese consumer’s overall spending power. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival. Alibaba Group Holding Ltd. BABA, -1.68% said late Wednesday that its Singles Day sales event generated $74.1 billion in gross merchandise volume … All times are ET. The remaining 14% of survey respondents said they will spend less on Singles Day, because the pandemic had brought too much uncertainty for them. About 20% of these are Playground, 1% are Animatronic Model, and 3% are Coin Operated Games. Chinese government halts Ant Group's giant IPO, Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger, positive economic growth for the second quarter in a row, Chinese shoppers are staying online. Hong Kong (CNN Business)China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. Alibaba sales passed $74 billion.This is almost double the number of Singles’ Day sales last year. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Essentially, the new rules update the old antimonopoly laws which were passed in 2008. In China, Alibaba once again held a glitzy live concert counting down the hours until the main sales day starts. Alibaba smashes 2019 11.11 record by posting $56b in 2020 GMV with 23 hours to go. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Alibaba.com offers 445 2020 playground sale products. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. This translates to … The aim of China’s new regulatory proposal is reportedly “to prevent and stop monopolistic practices in internet platforms’ economic activity, to lower compliance costs for law enforcers and business operators, to enhance and improve antitrust regulations on the platform economy, to protect market fairness, to ensure the interests of consumers and society, and to encourage the healthy and continuous development of the platform economy.”. The current P/S ratio for Alibaba as of January 05, 2021 is . 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