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Hollywood actress Scarlett Johansson with Jack Ma, president of Alibaba Group, at a night gala dedicated to Singles Day's online sales. The shopping trip takes place every year on November 11th. He is in his last year as president. the Forbes Registered billionaire is retiring next year. (Photo Barcroft Images / Barcroft Media via Getty Images)Getty
This is the present of Alibaba's billionaire, Jack Ma; his last 11/11. Sunday, singles day in China, the Superbowl retail trade, with the equivalent of non-stop shows at halftime, is expected to beat another record tomorrow. Jack Ma will retire from the company he's created and the online shopping spree that he has brilliantly inspired.
"I think it will be another record," said Brendan Ahern, director of investments at KraneShares. He believes that Singles Day sales will surpass last year 's record of $ 25.3 billion and reach $ 30 billion. "The hype around this event is intensifying each year and the company wants Jack to retire significantly."
The madness of last year's shopping, originally organized for singles on Valentine's Day, sold for a billion dollars of merchandise online … in two minutes. The company sold more than $ 25.3 billion worth of merchandise online last year.
People know it because, on a stage at the Shenzhen University Sports Center, Jack Ma shows his sales figures like he was Jerry Lewis at the classic fundraising telethon for muscular dystrophy organized on the occasion of Labor Day.
Through the Alibaba Group, the World Single Day Shopping Festival has become the largest single day online sales event in the world. (Photo of VCG / VCG via Getty Images)Getty
Even though this year's singles day is unchanged from last year, Black Friday and Cyber Monday sales in the United States are lower than in the United States. Last year, US retailers reported $ 7.9 billion in Black Friday sales and $ 6.6 billion in Cyber Monday, according to Adobe Analytics. . Singles day, that's twice as much.
Singles Day is online and 90% if it's done on a smartphone. Many communication applications are linked to e-commerce platforms and banks, including Alibaba's financial services product, AliPay.
Chinese consumers buy everything and anything on singles day. Alibaba sold more than 100,000 cars during the shopping night last year.
A slowdown in the Chinese economy could, however, hold back the future. Will the locals have 100,000 cars Sunday? Who knows. Maybe not.
"There are a lot of market expectations right now," said Mike Reynal, Emerging Markets fund manager at Victory Capital in Des Moines. "I think it's the pressure on FANG shares that has hurt China's technology companies," he said of Facebook, Amazon, Netflix and Google. Alibaba has been in a bear market all year, down 21%. What aggravates the problem is that it trades at 47 times the profits. (Amazon shares are even more expensive based on the price / earnings ratio.) Being expensive and in a bear market is a headwind, although Alibaba surprises with more than $ 30 billion in sales tomorrow.
Buyers and pedestrians walk past shops in the Sanlitun area of Beijing, China, on Saturday, Nov. 3, 2018. China is the best consumer story in the world, said Matthews Asia's strategists. Photographer: Gilles Sabrie / Bloomberg© 2018 Bloomberg Finance LP
Yet China remains the best consumer story in the world, said Andy Rothman, chief investment strategist at Matthews Asia in San Francisco. Chinese consumers are not immune to the economic downturn, but the opportunities for retailers are even greater than they were 10 years ago.
Retail sales rose 7.3% in China, which is slower than 9.3% last year, but four times faster than the United States. Most of it is done online. Singles Day is the biggest example of this trend.
They have adopted technology unlike anyone in Europe and the United States. The numbers are decisive. Retail sales between the US and China are now about the same, around $ 6 trillion, but the retail penetration rate of the Internet is about 15% in China, against about 9% in the United States.
A Chinese person scans a QR code with his smartphone to make an online purchase. China's retail business relies more on mobile devices than retail in any other country. (Getty Images.) Royalty-free.)Getty
A new study by Walmart and China's e-commerce giants, Tencent and JD.Com, found that more than 67 percent of the 1,774 Chinese consumers in a sample say they use mobile shopping services. Ironically, Walmart has partnered with JD.com since 2016 and does not do anything that JD does with UAV shipments and e-commerce in the United States.
China's Internet population is increasing.
About 72 million Chinese are online, but this is only a penetration rate of 52.2%. The number of Internet users in the United States stands at 287 million, with a penetration rate of 88.5%. In other words, unless Jack Ma's retirement from Alibaba narrows people's interest for Singles Day, this day is getting bigger and bigger.
China is in a class of its own. Or should be. It is thanks to high-tech companies that new Chinese entrepreneurs continue to appear on the market. Forbes list of billionaires.
Among the 1,151 companies in the MSCI Emerging Markets Index, China accounts for 451 of them.
Ma co-founded Alibaba in her apartment 19 years ago. He's been running it ever since. He announced in September that he would retire next year, which means that tomorrow will mark his last day of singles as a leader of Alibaba. Daniel Zhang, chairman and CEO of Alibaba, will be the new chairman.
"I think single retail could grow by 20 to 25 percent," said Andrew Mattock, portfolio manager of the Matthews China Fund. Last week, Alibaba announced that "nearly half of the Chinese population" was shopping on their platform. "Chinese consumers began to benefit from a reduction in income tax last month and wholesalers could try to modify their stocks by offering attractive prices before the entry into force of the China's new e-commerce law, "Mattock said.
According to McKinsey Business Consulting, China is now the largest e-commerce market in the world, accounting for more than 40 percent of global e-commerce. The euphoria created around Alibaba's Singles Day is certainly one of the reasons.
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Hollywood actress Scarlett Johansson with Jack Ma, president of Alibaba Group, at a night gala dedicated to Singles Day's online sales. The shopping trip takes place every year on November 11th. He is in his last year as president. the Forbes Registered billionaire is retiring next year. (Photo Barcroft Images / Barcroft Media via Getty Images)Getty
This is the present of Alibaba's billionaire, Jack Ma; his last 11/11. Sunday, singles day in China, the Superbowl retail trade, with the equivalent of non-stop shows at halftime, is expected to beat another record tomorrow. Jack Ma will retire from the company he's created and the online shopping spree that he has brilliantly inspired.
"I think it will be another record," said Brendan Ahern, director of investments at KraneShares. He believes that Singles Day sales will surpass last year 's record of $ 25.3 billion and reach $ 30 billion. "The hype around this event is intensifying each year and the company wants Jack to retire significantly."
The madness of last year's shopping, originally organized for singles on Valentine's Day, sold for a billion dollars of merchandise online … in two minutes. The company sold more than $ 25.3 billion worth of merchandise online last year.
People know it because, on a stage at the Shenzhen University Sports Center, Jack Ma shows his sales figures like he was Jerry Lewis at the classic fundraising telethon for muscular dystrophy organized on the occasion of Labor Day.
Through the Alibaba Group, the World Single Day Shopping Festival has become the largest single day online sales event in the world. (Photo of VCG / VCG via Getty Images)Getty
Even though this year's singles day is unchanged from last year, Black Friday and Cyber Monday sales in the United States are lower than in the United States. Last year, US retailers reported $ 7.9 billion in Black Friday sales and $ 6.6 billion in Cyber Monday, according to Adobe Analytics. . Singles day, that's twice as much.
Singles Day is online and 90% if it's done on a smartphone. Many communication applications are linked to e-commerce platforms and banks, including Alibaba's financial services product, AliPay.
Chinese consumers buy everything and anything on singles day. Alibaba sold more than 100,000 cars during the shopping night last year.
A slowdown in the Chinese economy could, however, hold back the future. Will the locals have 100,000 cars Sunday? Who knows. Maybe not.
"There are a lot of market expectations right now," said Mike Reynal, Emerging Markets fund manager at Victory Capital in Des Moines. "I think it's the pressure on FANG shares that has hurt China's technology companies," he said of Facebook, Amazon, Netflix and Google. Alibaba has been in a bear market all year, down 21%. What aggravates the problem is that it trades at 47 times the profits. (Amazon shares are even more expensive based on the price / earnings ratio.) Being expensive and in a bear market is a headwind, although Alibaba surprises with more than $ 30 billion in sales tomorrow.
Buyers and pedestrians walk past shops in the Sanlitun area of Beijing, China, on Saturday, Nov. 3, 2018. China is the best consumer story in the world, said Matthews Asia's strategists. Photographer: Gilles Sabrie / Bloomberg© 2018 Bloomberg Finance LP
Yet China remains the best consumer story in the world, said Andy Rothman, chief investment strategist at Matthews Asia in San Francisco. Chinese consumers are not immune to the economic downturn, but the opportunities for retailers are even greater than they were 10 years ago.
Retail sales rose 7.3% in China, which is slower than 9.3% last year, but four times faster than the United States. Most of it is done online. Singles Day is the biggest example of this trend.
They have adopted technology unlike anyone in Europe and the United States. The numbers are decisive. Retail sales between the US and China are now about the same, around $ 6 trillion, but the retail penetration rate of the Internet is about 15% in China, against about 9% in the United States.
A Chinese person scans a QR code with his smartphone to make an online purchase. China's retail business relies more on mobile devices than retail in any other country. (Getty Images.) Royalty-free.)Getty
A new study by Walmart and China's e-commerce giants, Tencent and JD.Com, found that more than 67 percent of the 1,774 Chinese consumers in a sample say they use mobile shopping services. Ironically, Walmart has partnered with JD.com since 2016 and does not do anything that JD does with UAV shipments and e-commerce in the United States.
China's Internet population is increasing.
About 72 million Chinese are online, but this is only a penetration rate of 52.2%. The number of Internet users in the United States stands at 287 million, with a penetration rate of 88.5%. In other words, unless Jack Ma's retirement from Alibaba narrows people's interest for Singles Day, this day is getting bigger and bigger.
China is in a class of its own. Or should be. It is thanks to high-tech companies that new Chinese entrepreneurs continue to appear on the market. Forbes list of billionaires.
Among the 1,151 companies in the MSCI Emerging Markets Index, China accounts for 451 of them.
Ma co-founded Alibaba in her apartment 19 years ago. He's been running it ever since. He announced in September that he would retire next year, which means that tomorrow will mark his last day of singles as a leader of Alibaba. Daniel Zhang, chairman and CEO of Alibaba, will be the new chairman.
"I think single retail could grow by 20 to 25 percent," said Andrew Mattock, portfolio manager of the Matthews China Fund. Last week, Alibaba announced that "nearly half of the Chinese population" was shopping on their platform. "Chinese consumers began to benefit from a reduction in income tax last month and wholesalers could try to modify their stocks by offering attractive prices before the entry into force of the China's new e-commerce law, "Mattock said.
According to McKinsey Business Consulting, China is now the largest e-commerce market in the world, accounting for more than 40 percent of global e-commerce. The euphoria created around Alibaba's Singles Day is certainly one of the reasons.
