Nike, Adi­das Sold More Than $28 Mn on Alibaba’s Sin­gles Day

Shoes & Accessories - - The Month That Was -

The Alibaba said that its an­nual shop­ping ex­trav­a­ganza, Sin­gles Day, gen­er­ated $30.8 bil­lion in gross mer­chan­dise vol­ume (GMV), an in­crease of 27 per­cent over the prior year. And ath­letic ma­jor like Nike and Adi­das were among the 230-plus brands that ex­ceeded $14 mil­lion in GMV — join­ing Ap­ple, Estée Lauder, L’oréal, Gap and other ma­jor brands. Men­tion may be made that Gross mer­chan­dise vol­ume refers to the to­tal value of mer­chan­dise sold on an e-com­merce mar­ket­place dur­ing a cer­tain time pe­riod.

Mean­while, ath­letic footwear maker New Bal­ance also had cause to cel­e­brate: Alibaba said it sold more than 60,000 pairs of its shoes dur­ing pre-sales.

“To­day we wit­nessed the strength and rise of China’s con­sump­tion econ­omy and con­sumers’ con­tin­ued pur­suit to up­grade their ev­ery­day life­styles,” said Alibaba CEO Daniel Zhang. “Par­tic­i­pa­tion from the en­tire Alibaba ecosys­tem en­abled our brand and mer­chant part­ners to en­gage with con­sumers like never be­fore. Look­ing ahead, Alibaba will con­tinue to lead the evo­lu­tion to­wards the fu­ture dig­i­tal econ­omy and lifestyle.”

China’s Sin­gles Day started 25 years ago as a so­cial ac­tiv­ity to help ro­man­ti­cally un­at­tached in­di­vid­u­als cel­e­brate — rather than re­sent — their sta­tus. But in 2009, Alibaba adopted the cel­e­bra­tion as a com­mer­cial hol­i­day, cap­i­tal­iz­ing on the Chi­nese say­ing, “If you can’t be with some­one you like, you can at least be with some­thing you like.”

This year, the mega-event — which brought in $7.8 mil­lion in GMV dur­ing its first fete — marked its 10th an­niver­sary.

“On the back of China’s ex­plo­sive dig­i­tal trans­for­ma­tion, the fes­ti­val’s as­tound­ing growth over the past decade has pow­ered the steady growth of qual­ity con­sump­tion sought by Chi­nese shop­pers,” Zhang said. “The evo­lu­tion also show­cases the de­vel­op­ment of the Alibaba ecosys­tem over time ex­pand­ing well be­yond e-com­merce.”

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