11st.Nov. Singles Day Set To Kick Off In China, Sales Expected Hit To $24 Billion,Will Achieve A L

  • Author:Climber Limited
  • Source:Internet
  • Release on:2017-11-11
    Do guys know how the day (11st.Nov.Singles Day) originated, it just originally was supposed to be a day for lonely hearts in China.But then Alibaba turned it into this massive shopping extravaganza  in 2009, just to give you some pretty interesting numbers .60,000 international brands are taking part in this year ,7000 of those American labels and that includes Nike, Lululemon, Macy’s the Gap and Estee Lauder.

  You know celebrities like Pharrell Williams as well as Maria Sharapova are here to mark the occasion and just to give you a sense of the size last year. 

  Singles they racked up sales that were two and a half times larger than Black Friday and Cyber Monday combined,and this year analysts expect that that number is going to break records once again at potentially twenty four billion dollars.

  Now this singles day Alibaba isn’t only talking about large sales but they’re also talking about their strategy forward.They see that they shouldn’t be staying only in e-commerce but that the way for it is to incorporate their technology and online platforms into bricks and mortar stores.So one of the examples that they’ve been showcasing today is with their supermarket chain, it’s a company called Kema and this company is sort of like a high tech Chinese version of Whole Foods.

  So the idea behind it is that shoppers can go into the store with their mobile phone that could scan information about each product.They could also order online and have those products delivered to their homes in 30 minutes or they could just take it out themselves and if they decided to take it out themselves.

  They’d go to a checkout counter where there’s a system that has facial recognition at scans your face and then you pay, now it all sounds very futuristic but it’s happening now in China.