Thirteen minutes after you touch the screen, a buyer surnamed Huang in the city of Foshan, in the southern province chinese of Guangdong, received the juicer I ordered on Alibaba, the largest e-commerce platform of China, to become the first packet delivered through the platform, the Day Singles in China.
Huang is one of the hundreds of thousands of consumers who remained awake all night waiting for bargains on-line for the Day of Singles, an annual feast of online shopping in China.
While the orders flow, sales on major e-commerce platforms in China quickly broke the record set last year.
The first 10,000 billion yuan (1.470 million) were reached in only six minutes 58 seconds in Alibaba, almost six minutes earlier than last year. Shortly before 15:20 hours, the figure had exceeded the 91.200 million yuan, equivalent to the total amount of sales throughout the day last year. At 18:55 hours, the volume exceeded 100,000 million yuan.
For 20:00 hours, the droves of customers had made 549 million of orders in the e-commerce platforms of Alibaba.
Other online platforms such as JD.com, Gome and Suning.com they overcame their earlier marks in the first few hours.
Considered by many as the chinese version of Black Friday in the united States, the Day the Single has become a huge battle for the market between companies chinese e-commerce.
The day of the craziness of shopping that has emerged in China has spread around the world. Alipay, the largest platform in China for online payments, is now available in more than 200 countries and regions, supporting transactions in 18 different currencies.
While foreign consumers get more skills to take advantage of bargains in the web pages in china, the domestic purchasers enjoy a wide variety of foreign products, thanks to the advertising of the Day of the Bachelors in media overseas.
This year, JD has worked with the global chain of supermarkets Walmart to offer to the chinese buyers of foreign products of quality. It has also signed partnerships with the japanese firm of logistics Yamato to accelerate the cross-border deliveries.
In this year’s meeting of the G20, Alibaba has established collaboration with companies from Canada and Russia to expand their presence overseas. In addition, it invested in Singapore Post to focus on consumers of south-east Asia.
With easier access to products from overseas, it is estimated that e-commerce market in China still has potential to grow more.
The research agency of the internet industry and iResearch points out that the volume of online sales in China was 1.1 trillion yuan in the second quarter of this year, an increase of 27.6 percent year-on-year. It is estimated that the volume will exceed 1.5 billion in the fourth quarter.
The madness of shopping is a sign of the enormous purchasing power of chinese consumers and the strong domestic demand leads to optimism about the economic outlook, ” said Guo Tianyong, professor of the Central University of Finance and Economics. F
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