Shenzhen. The sales for the Day of the Singles of Alibaba Group Holding Ltd. reached Friday, a record 120.700 million yuan (17.730 million dollars), despite the fact that the event has had a sales growth much slower than in 2015 because buyers sought price cuts even greater.
sales in the platforms of Alibaba climbed to 1,000 million dollars in less than five minutes, and exceeded the figure of last year when there were almost nine hours ahead of us.
total sales were 32 percent higher in 2015, but the increase was much less than the 60 percent in the past year, a reflection of greater caution among buyers who opted for spending less money on each purchase compared to the previous editions.
The 24-hour event, which is held every 11 November, offers a benchmark for the performance of Alibaba and clues on the inclination to the online shopping in China, especially through advanced phones.
The version of Alibaba’s event, launched in 2009, is designed to encourage to the consumers without a partner to take a taste.
The day of offers, also known as a “Double 11″, even moves more volume of goods that the “Black Friday” and “Cyber Monday” combined in the united States.
The lower sales growth is given by a retail market online local saturated, a weaker economy and a lower growth of personal income. The strength of the dollar also affected sales in that currency.
The Day of the Single reflects how chinese consumers prefer shopping online compared to physical stores.
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