Chinese shoppers spend a record $38.2bn during Singles' Day shopping festival

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It says that Alibaba has been enticing overseas shoppers by making the online buying process easier - consumers in some 200 countries took part in Singles' Day previous year.

JD (JD.O) posted net earnings of 1 billion yuan ($151 million), its highest ever quarterly profit, in the three months to September 30, far above an analyst consensus forecast of a 213 million yuan loss. The event helped at least 82 brands top 100 million yuan in sales- Nike Inc., Xiaomi Corp. and Uniqlo Co. coming out as some of the biggest winners. On Saturday, at midnight, an estimate of 168.3 billion yuan was registered on the live sales ticker used by Alibaba which was already 39% more from the 120.7 billion yuan that was made past year. About 80% consumers on Alibaba's shopping app are younger than 25, which demonstrates the trust that up-and-coming consumer groups place in mobile transactions. But there were hints of organizers wanting to make Singles' Day an global event.

In China, it's "Singles Day"-which started off as the brainchild of some students at Nanjing University back in the early 1990's". "We could take the gala overseas very soon".

Once a celebration for China's lonely hearts, Singles' Day has become an annual 24-hour buying frenzy that exceeds the combined sales for Black Friday and Cyber Monday in the United States, and acts as a barometer for China's consumers. The online shopper bought 168 billion yuan (22 billion euro) worth of products, thanks to Alibaba's discounts.

Jack Ma, the Chinese teacher-turned-business tycoon founded the Alibaba in 1999.

The event is so successful and popular because Alibaba is so strongly vertically integrated. They can also get goods delivered to their home.

Fu Wenyue, a 23-year-old dresser in Shanghai, said offers this year were smaller but more "personalized" as brands used big data to hone their targets.

Shoppers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam ordered 6.5 million items, 191 per cent or almost double that of past year, Lazada said in a media release on Monday (Nov 13). It oversees a coterie of more than a dozen shipping partners, orchestrating deliveries carried out by millions of people across more than 600 cities. In total, almost 1.5 billion transactions were registered and about 800 million packages will arrive at the customers' doorstep in the next few days and weeks.

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