Alibaba‘s annual 11.11 festival, also known as Singles’ Day, does not seem to have been a great success this year. The e-commerce giant did even release total sales figures, a striking contrast with the usual jubilant reports.
Along the same lines
For years, Alibaba has been carving out Singles’ Day as a highlight for online consumption, with sales figures dwarfing Amazon’s Prime Day and Black Friday in the West. The original day, then weekend, has become an 18-day period of bargains, but growth appears to be stalling. Growth had already slowed down last year, with “only” 8.5 % more sales, and now Alibaba is reporting stagnant sales.
