{"id":110825,"date":"2020-11-11T23:13:25","date_gmt":"2020-11-11T20:13:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/chinese-consumers-spend-over-100b-during-shopping-festival\/"},"modified":"2020-11-11T23:13:25","modified_gmt":"2020-11-11T20:13:25","slug":"chinese-consumers-spend-over-100b-during-shopping-festival","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/chinese-consumers-spend-over-100b-during-shopping-festival\/","title":{"rendered":"#Chinese consumers spend over $100B during shopping festival"},"content":{"rendered":"

“#Chinese consumers spend over $100B during shopping festival<\/strong>”
\n<\/p>\n

\n Chinese consumers spent over $100 billion during this year\u2019s Singles\u2019 Day shopping festival, signaling a rebound in consumption as China recovers from the coronavirus pandemic and a battering of the economy.<\/p>\n

From Nov. 1 to Nov. 11, shoppers spent 498.2 billion yuan ($75.1 billion) on Taobao and Tmall, the e-commerce platforms operated by Alibaba, China\u2019s largest e-commerce company.<\/p>\n

The final sales figure exceeded last year\u2019s $38.4 billion over 24 hours, after Alibaba extended its sales period this year for the first time as it sought to help boost sales for merchants affected by the coronavirus pandemic.<\/p>\n

On rival platform JD.com, consumers racked up 271.5 billion yuan ($40.9 billion) in sales over the same period.<\/p>\n

The annual Singles\u2019 Day shopping festival, the world\u2019s largest of its kind, offers shoppers generous discounts on a variety of products, from fresh produce to luxury items.<\/p>\n

Merchants big and small, from small online stores to international brands like App<\/a>le, Nike and L\u2019Oreal, participate in the festival by slashing prices on their products.<\/p>\n

The annual shopping festival is closely watched as a barometer for consumption in China. Alibaba, which pioneered the shopping festival, held its first Singles\u2019 Day sale in 2009. Over the past decade, the shopping bonanza has become the world\u2019s largest, regularly dwarfing Black Friday and Cyber Monday sales in the US.<\/p>\n

The Singles\u2019 Day festival is named as such because the main shopping day falls on Nov. 11, which when written numerically as 11.11 resembles \u201cbare branches,\u201d a Chinese expression for the single and unattached.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#Chinese consumers spend over $100B during shopping festival” Chinese consumers spent over $100 billion during this year\u2019s Singles\u2019 Day shopping festival, signaling a rebound in consumption as China recovers from the coronavirus pandemic and a battering of the economy. From Nov. 1 to Nov. 11, shoppers spent 498.2 billion yuan ($75.1 billion) on Taobao and…<\/p>\n","protected":false},"author":1,"featured_media":110826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2020\/11\/singles-shopping-tops-100B-e1605125480591.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[79537,76474,4973,49099,1545,77891,70470],"class_list":["post-110825","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-11-20","tag-alibaba","tag-china","tag-consumers","tag-coronavirus","tag-e-commerce","tag-retail"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=110825"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/110825\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/110826"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=110825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=110825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=110825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}