Dear MEL
Topic Readers,
Alibaba's
Singles' Day by The Numbers: A Record $25 Billion Haul
China is
leading the world, in various areas. High speed railways, solar power plants, and
electric vehicles only to name a few. But their leading roles aren’t limited in
hardware or infrastructure that could be invested or subsidized by the
government. Their mobile payment and e-commerce are rapidly growing, and accordingly,
their consumer engagement is getting more sophisticated and integrated.
Just within
24 hours on the 11th day of the 11th month of the year,
China’s e-commerce giant Alibaba’s e-commerce businesses generated $25 billion
of sales, a 40% increase from last year. Compare that amount to $6.79 billion, the
total sales by all the retailers in the U.S. on Black Friday and Cyber Monday combined
in 2016, you will find how significant the retail event is. Also, thanks to
their de-facto standard mobile payment platform Alipay along with WeChat Pay, 90%
of the purchases were made by mobile phones.
Enjoy reading
and watching the video to learn what this retail-tainment is about.
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