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Ecommerce

Syntun: Singles' Day sales hit USD 38 bln in 2017

Monday 13 November 2017 | 12:44 PM CET

Singles` Day has generated USD 38.2 billion in China in 2017, according to figures from the big data company Syntun.

The annual one-day shopping event – when ecommerce platforms offer huge discounts to stimulate online sales – has also generated 1.38 billion packages in just one day.

Alibaba was generating USD 25.3 billion in gross merchandise volume (GMV) from the 2017 event, accounting for 66.23% of the entire online sales in a day.

Alibaba was followed by JD, the other major ecommerce platform in China, which contributed 21.41% of the USD 38.2 billion sales in China. Suning and Amazon China accounted for 4.34% and 1.95%, respectively.

Syntun found that products sold on Alibaba platforms that need to be shipped from merchants overseas accounted for 5.4% of its entire sales. On JD and Suning, products from overseas accounted for 4.9% and 0.6%, while Amazon China has a relatively higher 7.3% sales for global goods.

Big appliances and mobile phones contributed most sales value, accounting for 15.2% and 8.7% of overall amounts, respectively. Personal care, maternity and children's goods, small appliances, and cosmetics had 5.6%, 3.6%, 2.8%, and 2.5% of the overall sales in China in 2017.

The research firm also suggested that 91.2% of the Singles Day sales are from mobile terminals like mobile phones.

More: Link
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