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Even though many other online platforms and stores take part in Singles Day, it is still closely tied to Alibaba. Visible Alpha. Hangzhou, China, November 12, 2020 - Alibaba Group Holding Limited (NYSE: BABA; HKEX: 9988) today announced the 2020 11.11 Global Shopping Festival generated RMB498.2 billion (US$74.1 billion) in gross merchandise volume (GMV) during the 11-day campaign from November 1 to 11, an increase of 26% compared to the same timeframe in 2019. That's great news for JD.com, Alibaba is spending more than $3 billion to dominate online groceries in China, A multibillion-dollar shopping obsession goes mainstream in China, slammed the brakes on the highly anticipated IPO of Ant Group, China halts Ant Group's giant IPO after dust up with billionaire Jack Ma. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival However, the company technically started Singles “Day” on Nov. 3 … “More and more, Alibaba is becoming synonymous with everyday consumption in China, growing our base Alibaba.com offers 445 2020 playground sale products. Tmall, Alibaba's online marketplace, will open its annual shopping bonanza known as Singles' Day sale on October 21, the company announced on Tuesday. Nov 11, 2020 Alibaba Group Holdings' (BABA) - Get Report Singles Day shopping event has topped $75 billion in total sales, a huge increase from … Together both JD.com and Alibaba brought in over $68 billion in Singles Day sales last year. Import & Export on alibaba.com Alibaba Group Announces March Quarter and Full Fiscal Year 2019 Results Hangzhou, China, May 15, 2019 – Alibaba Group Holding Limited (NYSE: BABA) today announced its financial results for the quarter and fiscal year ended March 31, 2019. 1 and No. “The new rules expanded the parameters for determining market share to include factors such as transaction volume, user base, and page views.”, NEW PYMNTS DATA: THE DECEMBER 2020 SUBSCRIPTION BUNDLING REPORT. Hong Kong (CNN Business)China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. About 20% of these are Playground, 1% are Animatronic Model, and 3% are Coin Operated Games. Historical PS ratio values for Alibaba (BABA) over the last 10 years. Related Alibaba's Singles' Day Has Wrapped Up -- Here's How Much the Event Generated in Sales Alibaba’s shares had already dropped sharply last week after that event. Pandemic dented the economies all over the world badly but luckily for Alibaba, things could not have been any better. 11.) Import & Export on alibaba.com Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. This translates to … According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. We reported yesterday that Alibaba is well on its way to create a history. That forecast, combined with the success of the 2020 Singles Day sales, suggests that the Chinese economy is recovering well from the pandemic. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide . In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. By Paul R. La Monica, CNN Business. A few more days of huge discounts help "brands or merchants recoup lost sales during the lockdown and [helps] global brands gain access to the stronger demand from Chinese consumers," Yap wrote in a note last week. “Over the past 12 years, innovation … November 5, 2020, 6:50 AM EST Updated on November 5, 2020, 8:58 PM EST ... Alibaba had benefited from stronger sales in its home market, which had led the global recovery from Covid-19. Updated 0231 GMT (1031 HKT) November 12, 2020. September is a time of renewal. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. The current P/S ratio for Alibaba as of January 05, 2021 is . State-run news network CCTV called for "fewer tricks" by shopping platforms during the Singles Day shopping season, saying they should not cheat consumers. Katy Perry sang at the pre-festival concert (appearing virtually), while U.S. brands from Apple to Nike made strong showings. Essentially, the new rules update the old antimonopoly laws which were passed in 2008. All rights reserved. U.S. shoppers spent a record $28.49 billion online during that period, according to Adobe Analytics data. So shoppers are approaching Singles Day with an indulgent mindset. This year, it's Katy Perry, who was virtually piped into a Shanghai arena late Tuesday evening. Revenue at Alibaba’s cloud computing business, a focus area for the company, jumped 60% to 14.9 billion yuan. Last year's headline performer was singer Taylor Swift. Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site. The report also examines how the knowledge that a COVID-19 vaccine will soon be available throughout the U.S. could affect their perceptions. Alibaba, China’s biggest (and lately its most controversial) company, said Singles Day sales totaled more than $74.1 billion. All times are ET. Alibaba annual revenue for 2020 was $71.985B, a 28.2% increase from 2019. The event has also gained traction outside. This year, the company added an extra three days of sales — which took place from November 1 through 3 — because of the pandemic, according to Alicia Yap, managing director at Citigroup Global Markets Asia. Updated 11:56 AM ET, Thu August 20, 2020 . Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "When pandemic makes international travel impossible, consumers will pivot these purchases domestically and particularly online," she said. But a spat between a tech billionaire and Beijing regulators likely won't affect how Chinese consumers shop, according to Penhirin of Oliver Wyman. This year, it's taking on new meaning as a showcase for the country's success in battling the Covid-19 pandemic. China's annual Singles Day online shopping bonanza regularly hauls in tens of billions of dollars for Alibaba and other e-commerce and retail companies in China. "Now it's time to be indulgent," Penhirin said. May 22, 2020, 7:15 AM EDT Updated on May 22, 2020, 10:17 AM EDT 4:24. Favor with Beijing on Alibaba.com Updated 0231 GMT ( 1031 HKT ) 12... Plumbs new Lows while Uncertainty Escalates by, Buyers, Wholesalers, Products Trade... Also expects luxury goods will sell really well, because Chinese usually them! Updated on may 22, 2020 Day sales events, according to news Site TechNode, the new rules the... Seems to have established itself as just that indicator — and American brands and retailers because! 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