Singles Day


China passes consumption test with flying colours

China passes consumer test with flying colours

(ATF) Millions across China stocked up their online shopping carts in a race to snag the best deals on Singles Day – an annual shopping extravaganza that takes place on November 11 each year.Popularised by Alibaba Group Holdings as the “11.11 Global Shopping event”, Singles Day is the world’s largest …

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China e-shopping event rings in 580,000 sales per second

China e-shopping event rings in 580,000 sales per second

(ATF) China’s annual e-commerce sales event has broken all records for sales and logistics speeds with billions of dollars-worth of products sold in the first two hours alone.The first wave of sales in this year’s so-called Double Eleven shopping festival, also called Single’s Day, clocked up 372.3 billion transactions - …

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Sunway snaps up Chinese TikTok star’s live-streaming business

Sunway snaps up Chinese TikTok star's live-streaming business

(ATF) The shares of Shanghai-listed special cable-maker Sunway have soared for two days after it said it would acquire a majority stake in Chinese TikTok celebrity Luo Yonghao’s livestream start-up at a premium of 28 times. Shortly after the announcement, Shanghai Stock Exchange issued a letter of inquiry questioning the …

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With Prada to 1-yuan deals, Alibaba kicks off Chinese Black Friday early

Prada to 1-yuan deals, Alibaba kicks off Chinese Black Friday

Alibaba Group yesterday kicked off presales for this year’s 11.11 Global Shopping Festival, the biggest shopping event in the world, and announced to extend the sales period this year by three days in an effort to spur spending amid the pandemic.Another promotion period from November 1 to November 3 will …

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