The fabricated e-commerce holiday saw sales that were 'in line with last year’s [gross merchandise value] performance despite macro challenges and Covid-related impact,' the company reported.
Data: Alibaba company reports; Note: In 2020, Singles Day was spread across 11 days; Chart: Nicki Camberg/AxiosThe fabricated e-commerce holiday saw sales that were "in line with last year’s [gross merchandise value] performance despite macro challenges and Covid-related impact," the companyAlibaba has never before been vague about how much it's sold on Singles Day since launching it back in 2009 to mark the informal holiday for singles in China.
The company has always been very proud about how many sales records it sets and analysts often view the figures as a measure of the strength of the Chinese consumer.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
All eyes on the consumer ahead of Black Friday and the holidays | CNN BusinessIt has been a tough year for American consumers. Inflation everywhere. Rapidly rising interest rates. A housing market that is starting to cool off. That begs a question with the holidays right around the corner: Are shoppers finally tapped out?
Read more »
Some of the hottest Black Friday gadgetsTaking a look at some of this year's hottest Black Friday gadgets.
Read more »
These noise-cancelling Sony wireless headphones are impressively affordable this Black Friday... seasonThe noise-cancelling Sony WH-CH710N wireless Bluetooth headphones are nowhere near as powerful or as overall impressive as the WH-1000XM5, but at this price, they're certainly worth your attention.
Read more »
Black Friday 2022 deals: Should you wait, or start ticking off your holiday shopping list now?Black Friday is weeks away but sales have already begun. So should you wait for potentially better deals or start holiday shopping now?
Read more »
The best Black Friday furniture deals to shop now: Wayfair, Target, moreSpruce up your whole home this Black Friday with these incredible furniture deals.
Read more »
Enjoy $180 off your first six Blue Apron orders this Black FridayFood shipped to your door? Yes, please!
Read more »