Chinese Singles' Day Eats Cyber Monday For Breakfast

Tyler Durden's picture

As online retailers in the United States prepare for Cyber Monday, i.e. the biggest online shopping day of the year, China’s largest e-commerce company just recorded the biggest day in its history.

As Statista's Felix Richter notes, on November 11, Chinese Singles’ Day, online shoppers bought merchandise worth more than $25 billion across Alibaba’s platforms (mainly Tmall and Taobao), shattering last year’s sales record in the process.

Alibaba processed 812 million orders within 24 hours and its payment service Alipay handled 1.5 billion transactions during the day, peaking at an incredible 256,000 transactions per second.

Compared to these numbers, Cyber Monday and Black Friday look like celebrations of frugality.

Infographic: Chinese Singles' Day Eats Cyber Monday for Breakfast | Statista

You will find more statistics at Statista

In 2016, total Cyber Monday e-commerce sales in the United States amounted to $3.06 billion with Thanksgiving and Black Friday adding another $3.79 billion to a weekend total of $6.85 billion.

This year’s Thanksgiving weekend will likely bring about another record in U.S. e-commerce history, but it won’t come close to matching China’s largest shopping extravaganza.

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Jim in MN's picture

Breaking news--BBC has uncovered secret deal between US/British forces and ISIS to allow a 'miles long convoy' to escape the fighting in Syria.

 

http://www.bbc.co.uk/news/resources/idt-sh/raqqas_dirty_secret

 

 

francis scott falseflag's picture

Russia's got Kalibr just for that situation

HedgeJunkie's picture

Singles Day?

Is that when all those lonely chinese men buy fapping supplies?

813kml's picture

Lube, ramen, and blow-up dolls.

old naughty's picture

Ha, guess Saudi rightly intended to take the "Sophie" market.

3-fingered_chemist's picture

Thought that was the Japanese men that were being shunned by their own poontang?

SilverRhino's picture

That's a LOT of asian men actually.

SilverDOG's picture

Regardless of what they are buying;

they are.

All the jokes above and below amplify the sound of poverty.

I have a business and work work work.

However, I see so many poor people, and non-consuming consumers.

94.5 million out of the work force, the US is in the Greatest Depression already and getting worse.

But hey! China ( add joke here ).

 

 

Anarchyteez's picture

Smell the coffee?!

francis scott falseflag's picture

Smell the egg foo young.

Now you're smelling.

Shed Boy's picture

Happens again next month on 12/12. China is into online shopping big time. Big discounts and free shipping on 11/11 and 12/12. They have us beat in online shopping, it's usually free shipping and super fast delivery. Last year when I was there We bought all new luggage and it showed up at our door in 3 days. Singles day is something the America media tagged on it.

 

Midas's picture

Honestly, I would love for the Chinese to overtake 'muricans as the world's top consumer.  It was never something to be proud of. 

XBroker1's picture

In China they post statistics of singles in certain parks, on pieces of laminated paper. It's mostly to move those leftover Chineese women. It's usually the parents and grandparents that do this. I thought singles day was another form of that.

techpriest's picture

If its anything like the Chinese women I know, those parents pushed their (grand)daughter way too hard on studying and career, and now that she's so successful there, they suddenly flip to "get a husband and have a baby!" somewhere in the 26-28 range. But since she was never allowed to do anything but study, this kind of change is not so easy to do.

That is a pretty extreme example, but I've seen varying levels of it.

css1971's picture

Women are hypergamous,  most will only consider a partner who is at least as well educated, wealthy as they are. So the higher up the ladder they climb the fewer potential partners are acceptable. However men are not, so the higher they climb the more potential partners are available and so women who delay picking a partner past theIr peak fertility in favour of a 'career',  end up competing with younger prettier women who didn't.

=> The future is cat-ladies. Go long cat food.

3-fingered_chemist's picture

What does Singles' Day even mean? Maybe it's a translation that makes no sense. Who in their right mind would equate that with an online shopping craze?

Shed Boy's picture

It doesn't have anything to do with the shopping part. Separate events. America media tied them together and made it about shopping. Singles day predates the internet in China. China doesn't do the Christmas/consume all thing like we do. They save it for Chinese New Year. But thats more about family and eating then buying stuff.

techpriest's picture

It come from Chinese numerology. 11/11 is all 1s, which means "alone." Hence Singles Day, which is kind of an anti-Valentines. 6/6 is a good luck day, and 8/8 is good financial luck day (888 = money). Some of the numbers are based on sounding similar to other words: the famous one is 4, which sounds the same as the word for death.

I'm not sure how it ties with online shopping, other than that it might be popularized as a shopping day.

old naughty's picture

to them, 1=empty rod
so 11 means two empty rods go shopping (um, cruising)?
I googled Taobao they have 520,000,000 users. (TMall is an app so should be more).

Jack Ma is amazing, he is now joining Li (superman) to move Alipay into Hongkong. Guess targeting "richest man in Asia".

Silver Savior's picture

Yay people buying shit. Is this the only reason for our existence? 

Obsidian Samctum's picture

Only reasons for the plebs existence. If we didnt buy shit they would have exterminated us long ago.

Dr. Bonzo's picture

Only reasons for the plebs existence. If we didnt buy shit they would have exterminated us long ago.

 

Pretty much the Maoist position.

Dr. Bonzo's picture

Lemme see.... digging ditches for Mao with a gun to the back of the head; little Red Guard asswipes running around ratting out all the adults as traitors and human scum... off to the reeducation camp to be whipped like a dog and starved to death with 20-hours of daily forced labor.... or.... shopping online. Oh no, we have to protest too much because Tyler Durden says consumerism deprives life of meaning. LMFAO.....

 

Gotta go with Door # 2 Alex. Tyler Durden can shove it up his ass.

ali-ali-al-qomfri's picture

Singles Day;

celebrating the time when you could only have a single child,

who has grown up to detest their miserable life living in a communist nightmare with total surveillance and online tracking and zero freedom.

No, the other one.

 

 

francis scott falseflag's picture

I prefer Cream of Wheat.

ArmaG3don's picture

And people on Bloomberg/Reuters are just pitching China down. As well as Russia but this time it's only Bloomberg guys.

HRClinton's picture

Because Americans are still fairly individualistic, they cannot realize shopping savings that people in China do.

Over there, entire groups of families descend on a store and haggle for the rock-bottom price, by buying in GROUP BULK.  They then divide it up among themselves, and save waaaay more than they could by any other method (timing or shopping around and wasting time, energy and gas).

The other way they save, is that they do not pay for Designer brands at designer prices.  They pay Chinese prices for Designer products.  Full price is for dumb Americans and vain Europeans.  This pisses off (((US Merchants))), who want the Chinese to pay them American prices also for their logos and brand names.

qomolangma's picture

There is no such "Designer brands" in my purchase practices. I buy stuffs based on best value for money! I pay attention on quality, design, and functionality then the price, in consideration to my needs. I can care less the brand name, let alone the so-called "Designer brands".

 

IMO it's really dumb to pay rigged price for the brand name itself!!

KennyW's picture

Needless to say the Chinese have been buying and selling long before there was anything called America.

Dr. Bonzo's picture

Needless to say the Chinese have been buying and selling long before there was anything called America.

That's very true. Americans just spontaneously spawned from nothingness in the mid 17th century in North America, not like they descended from a long line of traders themselves spanning back to the Paleolithic. Somehow crossing the North Atlantic seperates them from their historical roots though. Long trips on boats have that effect on family trees. LMFAO.... Riiiiiiiiiight......

Nother round of that Chinese coolaid Sam......

 

SMFH

css1971's picture

256,000 transactions per second.

 

Bitcoin can handle 3. Can you say 'bubble'?

css1971's picture

If you have an emptiness inside.  Buying shit isn't going to fill it.

Dr. Bonzo's picture

If you have an emptiness inside.  Buying shit isn't going to fill it.

Yeah.... but you gotta admit it beats the emptiness in the back of your head caused by your brains spilling out after that cheapo 9mm slug splattered your eggshell courtesy of one of Uncle Mao's little red shits.

Or not.

moorewasthebestbond's picture

I bet American Black Friday gun and ammo sales will beat the shit out of China's gun and ammo sales.

ptolemy_newit's picture

The entire comment page above is a VERY CLEAR SIGN  of america.    fucking morons

 

Mao clean the banker swamp and china got 20 years of difficulty because off sanctions.  you push 3 offensive carriers into the East and every one is creating trade with out you!

 

its like killing your self  do you not see how decrepit you have become. look at your text!

 

qomolangma's picture

The Muricans have been growing to new low thinking of being big by talking down the others calling the Chinese purchases as buying shits :-)

 

If they can only make shits and other people only buy shits then you all have no worry for you're the ones left with the real stuffs while all others are having shits :-) lol

 

The ZH readership has been turned into the new lows over years... as the ZH itself changed ownership and policies so did its readership :-) a new reality!

Rick Cerone's picture

I thoght Chinese stawks were sliding yesterday?