Alibaba’s (NYSE:BABA) TMall’s Singles’ Day Sales + 60%
Strong sales by Chinese online vendors are evidence of robust consumption, but experts warn that online commerce needs to address problems in order to sustain growth.
Alibaba’s (NYSE:BABA) TMall’s online sales Thursday, Singles’ Day, grew 60% to reach US$14.3-B). The 2nd-ranking JD.com, though much smaller in volume, said 32-M orders were placed Thursday, up 130% from last year.
JD.com’s multi-day shopping campaign from 1 to 11 November saw 100-M orders, + 140% from last year.
Experts say the huge volume, along with growth in rural e-Commerce, global reach, and online-to-offline connections, are trademarks of this year’s Singles’ Day sales.
From January to September, China’s total retail sales of consumer goods grew 10.5% Y-Y to reach US$3.4-T. Online sales grew 36.2%. According to China’s new 5-year plan, consumption should play a fundamental role in China’s future economic growth.
| Symbol | Last Trade | Date | Change | Open | High | Low | Volume |
| NYSE:BABA | 78.76 | 12 Nov-2015 | -1.09 | 78.99 | 80.5 | 78.45 | 18,788,000 |
| HeffX-LTN Analysis for BABA: | Overall | Short | Intermediate | Long |
| Neutral (0.16) | Neutral (0.08) | Neutral (0.08) | Bullish (0.31) |
Stay tuned…
HeffX-LTN
Paul Ebeling
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