China: Alibaba sales break new record – archyworldys

Chinese e-commerce giant Alibaba on Friday announced a new record for its annual “Singles Day” sale operation, with 74 billion euros spent.

The “Singles’ Day” gives rise every year in China to a rush of consumers on their smartphones to order millions of products at reduced prices (clothing, food, computers …).

But Alibaba, in the crosshairs of regulators for several months because it is accused of having unfair commercial practices and of maintaining unhealthy consumerism, has, contrary to its habits, downplayed the importance of its new record.

“The amount of sales is no longer the only indicator of success,” Alibaba said in a statement.

The “Singles Day” is presented as the biggest sales operation in the world, ahead of the American “Black Friday”.

The sales amount of the 2021 edition for Alibaba, at 540.3 billion yuan (74 billion euros), is about 8.5% higher than last year.

The group based in Hangzhou (eastern China) usually organizes a large media operation, where a giant screen shows in real time the amount of transactions made on its platforms.

But Alibaba has kept a low profile since last year and its founder Jack Ma’s criticisms of regulators, which he accused of hampering the development of his company.

The authorities had imposed the stop of a gigantic IPO (34 billion euros), of Ant Group, the financial arm of the company, on a background of concern about the systemic risks that such an operation would create weigh on the financial system.

Alibaba was then fined 2.3 billion euros for abuse of a dominant position.

The platform was accused of prohibiting merchants from selling their products on competing platforms or of using algorithms to bombard consumers with purchase recommendations.

“In the early days (of Singles Day), we were focused on growth, the same way parents focus on the size and strength of their child,” metaphorized Chris Tung, the group’s chief marketing officer. .

“But when their child becomes a teenager, parents focus on developing his or her sense of responsibility, the role he or she plays in society. This is what we are doing now,” he said. seeming to take over the government’s message.

Alibaba’s main competitor, JD.com, reported sales of 271 billion yuan (37 billion euros) – a sharp increase of about 28% year on year.

The two rival platforms say they have recorded particularly strong sales for certain items: household appliances, electronic devices, pet products and even cosmetics.

ehl / am