Wednesday, 20 November, 2019

Alibaba says Singles' Day sales hit $13bn in first hour

Singles Day 2019: Alibaba's shopping day bigger than Thanksgiving, Black Friday, Cyber Monday combined Kiwi companies win big with Singles' Day but most Kiwis don't know it exists
Russell Knight | 10 November, 2019, 23:06

Alibaba saw sales worth $30 billion on its platforms on Singles' Day past year, dwarfing $7.9 billion USA online sales for Cyber Monday.

NZ Post Chief Marketing Officer, Bryan Dobson says, "Singles' Day is starting to catch on in New Zealand - and while Black Friday and Cyber Monday still dominate the online shopping days in New Zealand, we're expecting Singles' Day this year to be bigger than ever as Kiwi consumers and e-tailers jump on the bandwagon".

Year after year, the Chinese e-commerce giant posted new Singles' Day sales records, with last year's gross merchandise volume amounting to a staggering $30.8 billion across all of Alibaba's e-commerce platforms.

A survey from price and product comparison site PriceSpy found 73 per cent of Kiwis had not heard of the November 11 shopping festival. Cleaning products company Ecostore sold $2.36 million worth of product on November 11, while Fonterra clocked $28m from sales of its Anchor dairy products and Anmum milk powder.

Pinduoduo will be also holding its own "Singles' Day" events on the same day.

This figure is down from a year ago, when 76 per cent of Kiwis said they had not heard of the shopping festival. "Singles' Day really kicks off the busy period for NZ Post".

"This year will be the 11th 11.11 festival, with more than 200,000 brands participating, one million new products on offer and over 500 million users are expected to participate - about 100 million more than last year", Alibaba said in a statement.

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NZ Post is keeping an eye on the spending trends this online shopping season and will be reporting back to New Zealand on whether Kiwis are spending as much as we predict in the 2020 Full Download report.

Alibaba celebrates Singles Day as a day for those who are not in romantic relationships to pamper themselves by shopping online.

NZ Post's recent The Full Download 2019 report showed that Kiwis are shopping online more often and spending more, with online shopping "holidays" such as Singles' Day, Black Friday and Cyber Monday becoming a major factor in our online shopping habits. Almost a quarter of US retailers plan to run promotions for Singles Day, according to Adobe, which surveyed more than 400 USA retailers with annual sales in excess of $500,000. In November and December it delivered a total of 14.5 million parcels.

The company also said that sales figures are likely to see huge growth from last year's figures of $30 billion.

Last year, A2 and NZ Lamb in particular were big winners.

NZ Post delivered more than 78 million parcels a year ago.

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