Ningbo's major online retailers may top 300 m in sale on 'single's Day'
- Details
- Category: Ningbo Business
- Published: Tuesday, 20 November 2012 09:17
More than 10 billion yuan was spent in 1:38 pm of a 24-hour shopping bonanza at China's well-known business-to-consumer (B2C) online retail website Tmall.com on Sunday, or "Single’s Day", said Alibaba Group. The trade volume of the three Ningbo-based clothes retailers, Beyond, GXG, and Peacebird, is expected to exceed 300 million yuan.
The actual payment on Tmall.com hit 10 billion yuan last Sunday, a record high for Chinese retail industry. The figure not only shows the consuming potential of Chinese netizens, but also tests the overall capacity of Chinese online retailers.
According to data released by Alibaba Group, over 10 million people swarmed to its e-commerce website 60 seconds after the shopping feast began at midnight. Sales reached 250 million yuan in 10 minutes, 1 billion yuan in 37 minutes, 5 billion yuan in 8:10 am, and broke the record of last year in just eight hours. Volume reached 10 billion yuan as of 1:38 p.m., which was the target for the 24 hours.
Amid the current economic downturn, many companies turn to e-commerce for restructuring and further development. An increasing number of local online retailers joined this year's Single's Day promotion. The sale of Beyond Group hit 100 million yuan on 16:00 last Sunday, a year-on-year growth of 133 percent. "The number of shoppers grows substantially compared to the same period in 2011. We will serve about 9,000,000 customers today," said a staff member in Beyond's online store last Sunday.
The daily sale volume of Peacebird Group topped 36 million yuan in the first three hours last Sunday, accounting for 70 percent of the daily volume of "Single's Day" last year. "E-commerce is complementary to traditional retail industry. More importantly, through the analysis of the data of online sale, we can learn more about our after-sales service and follow-up product development," said Weng Jianghong, a manager in Peacebird Group.
GXG, a clothes retailer, reported an actual payment of 650 million yuan on 17:00 pm on Sunday. Its sub brand, GXG jeans, also achieved a sale of 100 million yuan during the same period. The general manager of GXG, Li Shujun, said, "we are likely to close a daily sale volume of 1000 million yuan." It is reported that the CEOs of many local online retailers didn't take even a nap on the eve of the "Single's Day". What they are concerned with is not only the sales during the promotion but new opportunities for their future development.
