US$38 billion was recorded in 2019 for Singles Day which falls on 11th November every year in China. This year, I expect this record to be broken and hit a much higher figure.
Would the much anticipated Ant Financial IPOs be launched before the Singles Day or after ? I don't know but the amount of media attention and how crazy it is over subscribed.
This momentum if continues plus the pent up demand from the Covid -19 may drive lots of consumers in China to go on a revenge shopping trip and buy more than usual. Plus, the vendors will be dangling perhaps more carrots this year than last year and new , traditional players that see a big fall in revenues from their retail shops may jump on the bandwagon and take advantage of this special day.
It is a win win win for all - vendors , customers and of course Alibaba!!!
Would the much anticipated Ant Financial IPOs be launched before the Singles Day or after ? I don't know but the amount of media attention and how crazy it is over subscribed.
This momentum if continues plus the pent up demand from the Covid -19 may drive lots of consumers in China to go on a revenge shopping trip and buy more than usual. Plus, the vendors will be dangling perhaps more carrots this year than last year and new , traditional players that see a big fall in revenues from their retail shops may jump on the bandwagon and take advantage of this special day.
It is a win win win for all - vendors , customers and of course Alibaba!!!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.