We know that there is a festive season in India right now, which means that there are a lot of sales going on in the country, but the same goes for other countries such as the US and China that have a lot of festive sales and year-end sales right now. As far as China is concerned, it is kicking off its Singles’ Day shopping season right now also known as “Double 11” due to it falling on 11th November, is already seeing its biggest sales. Two of the biggest e-commerce sites in the country, Alibaba and JD, are going to have their best sales in the season.
Zhang said, “JD.com and Alibaba are going all out in this year’s Singles’ Day festival because they need to seize the opportunity as the economy recovers after the three-year Covid-19 pandemic. Both e-commerce giants are touting deep price cuts in the hope that consumption recovers while they fend off the challenge from new live-streaming e-commerce platforms. Unlike the Singles’ Day event in previous years, the two e-commerce giants now must do battle against major live-streaming e-commerce platforms”.
Within 10 minutes of its promotion’s 8 p.m. start, JD.com’s user orders and overall transaction volume skyrocketed to achieve over four times last year’s figures, the Beijing-based company said in a statement. Its Singles’ Day campaign runs through November 13. JD.com eschewed the traditional presales period, making the firm’s vast inventory of over 800 million products – backed by a more than 30-day price guarantee – available for immediate purchase. The guarantee promises to compensate consumers for the difference in price if they find that items they bought on JD.com are more affordable elsewhere.
The company mentioned, “While groceries and daily necessities such as cooking oil and rice were among the fastest-selling categories, products under JD.com’s 10-billion-yuan discount programme exceeded 100 million yuan in sales within the first 5 minutes of its promotion”. It added, “Stand-out categories included toys, growing by 200 percent; Suqian hairy crabs, which saw a 30-fold sales boost; and jewelry and accessories flash sales that crossed the 100-million-yuan mark. JD Worldwide, the company’s import division, also doubled its year-on-year sales across more than 280 imported categories”.
