×
77 431
Fashion Jobs
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Williamsburg
KOHLS
Full-Time Loss Prevention Officer
Permanent · Milpitas
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Hiram
KOHLS
Full-Time Loss Prevention Officer
Permanent · San Rafael
KOHLS
Full-Time Loss Prevention Officer
Permanent · San Jose
L'OREAL GROUP
Packaging Operator, Friday-Sunday Nights (7pm-7am)
Permanent · Franklin Township
NIKE
Global Director – Consumer Creation Communications – Kids
Permanent · Beaverton
NIKE
Demand And Supply Management Analyst/Planner
Permanent · Beaverton
NIKE
Demand And Supply Management Senior Planner
Permanent · Beaverton
JORDAN
North America Jordan Brand Marketing Manager, Men's
Permanent · Beaverton
JORDAN
na Jordan Brand Marketing Manager, Women’s
Permanent · Beaverton
NIKE
North America Logistics Manager
Permanent · Beaverton
NIKE
Marketplace Operations Senior Business Analyst
Permanent · Beaverton
NIKE
Senior Director – Consumer, Marketplace & Marketing Architecture
Permanent · Beaverton
OLD NAVY
Regional Visual Manager - Tennessee Region
Permanent · Nashville
FOOT LOCKER
sr. Manager, Product, Leed
Permanent · New York
FOOT LOCKER
sr. Manager of Operations - Distribution Center - Pennsylvania
Permanent · Camp Hill
NORDSTROM
Asset Protection - Agent - Spokane Valley Plaza Rack
Permanent · Spokane
JCPENNEY
Asset Protection Security Specialist
Permanent · Plano
JCPENNEY
Senior Advertising Art Director - Beauty, Fashion, Marketing
Permanent · Plano
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · Cameron Park
SALLY BEAUTY CORPORATE
Outside Sales Representative -Cosmoprof
Permanent · Springfield
By
AFP
Published
Nov 12, 2021
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba, JD enjoy record Singles Day despite tech crackdown

By
AFP
Published
Nov 12, 2021

Chinese ecommerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown that hammered the country's tech sector.


AFP



The firm said 540.3 billion yuan ($84.5 billion) was spent as China's army of consumers went on a splurge, despite a much lower-key sales campaign following pressure from the government to tone down the aggressive promotions and rampant consumerism.

Combined sales with industry rival JD.com came in at 889 billion yuan ($139.4 billion) -- equivalent to the GDP of many countries -- which was also a record and up about a fifth from last year.

Both Alibaba and JD.com reported strong sales of items such as electric appliances, electronics, pet supplies, and cosmetics and other personal-care goods.

JD.com share rose more than four percent in Hong Kong on Friday, though Alibaba was down more than one percent.

"Single's Day" -- so-called for the 11.11 date -- began more than a decade ago and for years was a one-day, 24-hour event on November 11.

But industry players expanded it recently into an extended promotion from November 1-11, with many retailers and platforms offering discounts and pre-sales even earlier.

The shopping fest now dwarfs the US "Black Friday" spree and has become a barometer of consumer sentiment in the world's second-largest economy.

Concerned that Big Tech was becoming too powerful and abusing its market dominance, the government has this year dramatically tightened regulation.

The campaign has rattled investors, slicing billions of dollars off the market capitalisation of Alibaba -- which has seen its share price plunge about 30 percent this year-- as well as JD, Tencent and other major players.

In e-commerce, the government has taken specific aim at alleged abuse of user data and monopolistic business practices by platforms, such as banning merchants from selling their products on rival sites.

But the steadily rising consumer sales are also likely to be quietly welcomed by the government, which is moving to create a more modern consumer-driven economy, lessening the traditional reliance on manufacturing, exports and government investment.

 

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.