Alibaba Single’s day sales expected to fall this year
Kathmandu, November 11. Singles’ Day is a holiday celebrated in China on November 11, as the date 11/11 consists of 4 ones or 4 singles, standing together. Decades ago, the day was also called “Anti-valentines day” as single bachelors gather and party together.
In recent years, China’s Singles’ Day has become the world’s biggest day for online shopping and internet commerce, which surpasses the combined sales of both Black Friday and Cyber Monday.
The 24-hour event Last year, showcased over 350,000 local and international brands, cars, and houses. 3 million workers and 4,000 cargo planes and ships worked in collecting over 74 billion rupees through online sales and delivery.
However, this year, the sales of Asia’s e-commerce giant “Alibaba” aren’t going up as expected. The company has announced that it will release its official statistics after the event.
2021 has not been a lucky year for Alibaba group. It has become one of the regular targets of the Chinese regulatory authorities. Earlier in April, the Jack Maa-owned company was fined $2.8 billion for displaying monopolistic behavior.
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