NEW YORK, September 11 (Xinhuanet) – A Chinese newspaper "Black Friday" This year, the 10th anniversary of Guangdong Gunze attracted attention, whether it would be able to record record-breaking sales after the economic slowdown in China.
According to the Wall Street Journal (WSJ) on October 10, China's biggest e-commerce company, Alibaba, posted sales of 25 billion dollars ($ 28.2 billion) on November 11 last year. This is more than $ 19.6 billion in sales over five days from last year's US Thanksgiving to Cyber Monday.
Alibaba's JD.com rival also posted sales of $ 19 billion last year (11 trillion won) in the past 11 days.
Gwang Gunje comes from the fact that in 1990, students from the Nanjing area in China were called November 11, which is a repetition of four times, as one day. Alibaba was developed into a shopping event in 2009, when it was sold for singles today.
The explosion of smartphone users in China is a key factor in & # 39; storm shopping & # 39; Alibaba handles 775 million orders for 24 hours at last year's event.
However, this year's forecast is not as bright as China's economic slowdown and worsening consumer sentiment. According to consulting firm Oliver Waeman, 38% of Chinese Millennials (early 1980s in the early 1990s) plan to cut spending this year. Overall, 38% of Chinese consumers say they will reduce consumption.
As a result, Alibaba is trying to update its records with new promotional steps. The Hema supermarket chain and Yelp food information service will be promoted through the light of Gunze. The Allamer food delivery platform (Ele.me) offers discounts for selling Starbucks Coldbrew coffee for 1 yuan (around 163 won).
In addition, nearly 200,000 stores across China will double the QR code to allow buyers to search for products online.
Efforts to enter foreign markets are also active. Rajada, a subsidiary of Alibaba in Singapore, holds 11-11 shopping events in six countries including the Philippines and Malaysia.
Alibaba does not disclose specific sales targets this year, but expects the market to be able to update its records last year. Alibaba is expected to generate more than $ 32 billion in sales this year, according to App Annie, a mobile application analyst.