Singles Day, really Singles Nearly Fortnight (to borrow a British term) running from Nov. 1-11, was hit by headwinds from an anemic economy, the pandemic, Chinese crackdowns and supply issues, increasing 8.5% to $84.54 billion for originator Alibaba, the lowest jump since its inception in 2009.
The U.S. Trade Representative’s office is considering adding Amazon sites in the UK, Canada, Germany, India and France to the Notorious Markets list due to alleged growth in sale of counterfeit goods, based on a request from an apparel trade group, according to WSJ. Chinese marketplaces Taobao and Pinduoduo are on the 2019 list.
The Alibaba Group reported strong ecommerce growth for the quarter ending March 31. Here is a look at the rest of its business during the quarter.
A new report from the Boston Consulting Group found that Chinese ecommerce spending was $750 billion in 2016, more than the U.S. and the UK combined, while it’s growing at 20% per year, twice as fast as those markets. See what else the report found, including China’s booming mobile commerce use.