Online consumers spent more than 12.35 billion euros on Sunday in the first two hours of a single day, the Chinese version of Cyber Monday, which offers big discounts on digital purchases.
Chinese & # 39; online & # 39; the day of reckoning has once again highlighted Chinese & # 39; e-commerce div & # 39; Alibaba, who turned an unofficial holiday for people without romantic partners into the real annual award for digital companies.
The big Alibaba Gala show in Shanghai showed a rise in real-time sales: two to five seconds after midnight, the $ 1.26 billion worth of buyouts were made only at the Alibaba platform. The clock and 47 minutes later this number increased tenfold.
Singles Day began as an event celebrated by Chinese university students in the nineties, and Chinese is called Double 11 (date and month of the year). Customized vacations have already been adopted by digital store companies and have been transformed into the Chinese version of Cyber Monday – the busiest day for online shopping in the United States.
Chinese e-commerce platforms have been criticized over the years due to low-quality sales and counterfeit products.
Hong Tao, a professor of economics at Beijing University of Technology, said that "Independent Day" encourages customers to prioritize their prices by quality, often buying what they do not need.
JMC // JMC
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