- 23 November 2018
- Transport / Logistics Services
When investors flee because sales have only grown by 31% – and not doubled – you can see the hype over Singles Day in China. This is what happened to Baozun, which saw $940 million in sales on 11/11, an increase of 31% by comparison to preceding years.
Those that won, won big it seems though. Alibaba threw a party comparable to Chinese New Year and saw $144 million in sales in just 21 seconds. The Amazon of China saw $30.75 billion in sales during the 24 hour Singles Day sales bonanza. While investors ran from Baozun for sales only rising by 31%, Alibaba’s sales fell to 27% in growth from 39% the year before. This doesn’t seem to have lost it friends.
Alibaba’s next biggest rival didn’t do too badly either. JD.com saw sales hit $22.9 billion that day.
For delivery companies too this wasn’t a tough time except in handling the physical volumes of goods. Alibaba owned Cainao network took a billion delivery orders on Singles Day, or in context a similar amount of delivery orders to the entirety of the UK over four months.
While maturing the growth of online sales in China are still eye-watering by comparison even to the faster growing e-commerce markets of the West. It has millions of people who are yet to come into e-commerce owing to their rural existences and this should see growth in the double digits for many years to come.