By X Social Group posted June 19, 2016

#xsocialgroup #marketupdate #alibaba #singlesday #crossborder #socialcommerce

Alibaba set a record of RMB213.5 billion (US$30.8 billion) in Singles’ Day sales, putting this year’s gross merchandise volume 27% higher than last year’s tally. Just 15 hours and 49 minutes into the spending spree, transactions exceeded 2017’s tally of RMB168.2 billion (US$25 billion). New growth was fueled by the country’s rising middle class looking for new ways to upgrade their lifestyles and making their lives better. Health supplements, small home appliances, and skincare items were among the fastest growing categories this year.
The biggest spenders were from Guangdong, followed by Zhejiang, Jiangsu, Shanghai, and Beijing. In the first hour of this year’s Singles’ Day, top countries selling to China were Japan, the U.S., and South Korea, with the most popular items purchase being dresses, wool coats, pants, and hoodies.
More than 180,000 brands participated in this year’s 11.11 shopping festival.

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Source: TechCrunch

By X Social Group posted November 12, 2018