Historical PS ratio values for Alibaba (BABA) over the last 10 years. Alibaba Sales … Import & Export on alibaba.com An opportunity to start anew, to reinvent some aspect of your life, to refocus on tasks that got forgotten in the heat and lazy days of summer. "It's not patriotism ... it's just the technology, design and quality are better, therefore there is just more confidence" in Chinese brands, Penhirin said. In 2019, total sales racked up by Alibaba amounted to $38 billion, which was a 24.6% rise year-on-year. Alibaba’s Singles Day performance on Wednesday (Nov. 11) shows that the Chinese consumer is back — big time. The remaining 14% of survey respondents said they will spend less on Singles Day, because the pandemic had brought too much uncertainty for them. As for Singles Day, this year’s strong sales were notable not only for the records broken but also as a barometer of the Chinese consumer’s overall spending power. By Paul R. La Monica, CNN Business. Compared to the same timeframe as last year, this year's haul represents an increase of 26%, the company said. The regulations will also hit Alibaba’s Ant Group, which took a beating last week after the government suspended its planned initial public offering (IPO). 1 and No. A survey from market research firm Oliver Wyman found that 86% of Chinese consumers are willing to spend the same as or more than what they did during last year's Singles Day. Livestreaming had been around in China for years, but really took off during lockdown. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. The big gains were a great sign that the Chinese economy — and more specifically, consumer spending — is on a post-COVID rebound. Alibaba sales soar but US crackdown may be looming. The stock fell after the Chinese government announced new antimonopoly rules that will increase the pressure on eCommerce marketplaces and payments services. Promotion Period: 04-01-2020 – 11-01-2020; January 4 – SUPER VALUE DEALS – Specially for you January 6 – BIG CLEARANCE DISCOUNTS – Deals over 70% off January 6 – MUST-HAVES – Hot items, huge discounts! Chinese government halts Ant Group's giant IPO, Alibaba stock slides despite strong earnings, as Ant Group IPO concerns linger, positive economic growth for the second quarter in a row, Chinese shoppers are staying online. That forecast, combined with the success of the 2020 Singles Day sales, suggests that the Chinese economy is recovering well from the pandemic. Even though many other online platforms and stores take part in Singles Day, it is still closely tied to Alibaba. But a spat between a tech billionaire and Beijing regulators likely won't affect how Chinese consumers shop, according to Penhirin of Oliver Wyman. They saved money during. According to news site TechNode, the new rules will apply physical-economy statutes to the digital-first economy. The current P/S ratio for Alibaba as of January 05, 2021 is . Chinese shoppers "continue to spend like crazy," said Oliver Wyman partner Jacques Penhirin, who led the survey. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. Most stock quote data provided by BATS. This year, the company added an extra three days of sales — which took place from November 1 through 3 — because of the pandemic, according to Alicia Yap, managing director at Citigroup Global Markets Asia. Alibaba Generates RMB498.2 billion (US$74.1 billion) in GMV during the 2020 11.11 Global Shopping Festival However, the company technically started Singles “Day” on Nov. 3 … Alibaba annual revenue for 2020 was $71.985B, a 28.2% increase from 2019. For more information on how our historical price data is adjusted see the Stock Price Adjustment Guide . A screen shows the value of goods being transacted during Alibaba Group's Singles' Day global shopping festival at a media center in Hangzhou, Zhejiang province, China, Nov 11, 2020. Alibaba Singles Day 2020 … In China, Alibaba once again held a glitzy live concert counting down the hours until the main sales day starts. Visible Alpha. And recent criticism of the annual event by government groups and state media could signal that Ma is still out of favor with Beijing. Alibaba.com offers 445 2020 playground sale products. Alibaba boasts over US$70b sales as first post-virus Singles’ Day nears end Wednesday, 11 Nov 2020 04:51 PM MYT A logo of Alibaba Group is seen during Alibaba Group’s 11.11 Singles’ Day global shopping festival at the company’s headquarters … That ’ s shares had already dropped sharply last week after that event last week after that event well! 1 % are Coin Operated Games and Accor SA also passed the 1 billion yuan transaction mark for the time.! 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