Alibaba's Singles Day event to see record sales

'8억 중국인 클릭경쟁'…알리바바 쇼핑축제 열흘간 63조 팔았다

November 11th might seem like any other ordinary day,... but in China it marks the start of the world's biggest 24-hour online shopping event.
Watchers say that, with more people pent-up from the pandemic,... the event will break new records.
Lee Seung-jae reports.
China's version of Black Friday,... dubbed 'Singles Day' kicks off Wednesday.
And this year, the world's biggest 24-hour online shopping event is ready to break new records.
Started by Chinese e-commerce giant Alibaba in 2009,... this year's event includes more than 350-thousand brands,... with 2 million new products.
While robot cleaners, vacuums and other household goods are expected to be popular,... luxury brands are looking to get a huge sales boost,... as millions of Chinese who have been unable to travel overseas will flock online for what experts are calling "revenge spending".
Also, given the pandemic,... health products such as vitamins and air purifiers are expected to be hot-sellers.
Watchers say that,... with so many consumers frustrated by the pandemic,... this year's event will break new records.
To boost sales even more,... the event started on November 1st,... and will end at midnight on Thursday.
On pace to smash the annual sales record,... total purchases already passed the 56 billion dollar mark,... in the 10 days leading up to the main event through its first 30 minutes.
November 11th has been celebrated as 'Singles Day' since Alibaba founder Jack Ma started the global shopping festival in 2009,... with just 27 merchants.
His goal was to increase online spending on a day to celebrate single people.
Lee Seung-jae, Arirang News.

2020-11-11, 07:00 (KST)

#Alibaba #economy #online_shopping