Posted inNews Feed

JD reports a faster growth rate in Singles Day GMV than Alibaba

Alibaba generated RMB 540.3 billion ($84.5 billion) in gross merchandise volume (GMV) during Singles Day, an annual shopping festival. This year’s figure increased 8% compared to last year, the first single-digit growth for Alibaba in the past decade. recorded RMB 349.1 billion in GMV for its Singles Day promotion, a 28% increase from last year’s figure. [JD press release, in Chinese]

Posted inHeavy Hitters

China’s Singles Day sales top RMB 332 billion across platforms

Chinese e-commerce giants including Alibaba and have announced new record-breaking sales for Singles Day, the 11-day shopping extravaganza that ended Wednesday at midnight. Why it matters: Singles Day, typically a 24-hour event, has evolved into a weeks-long shopping festival. Alibaba, credited with popularizing the promotion, extended the event this year by creating two shopping […]