Disappointed billionaires: $ 84 billion in bachelor day 2021 singles in Alibaba do not satisfy everyone

After several consecutive years with incredible double-digit leaps, competition and the local economic slowdown are giving their signals on the biggest shopping celebration in the Far East

Sales of the Chinese Singles Day Festival for 2021 ended with huge revenues of 540 billion yuan for Alibaba (Alibaba, which sells better for most of us thanks to AliExpress), which are 84.5 billion dollars and 261 billion shekels or so – but somehow not everyone is happy with the huge figure this.

Anyone who has followed the development of this Chinese online shopping celebration in recent years will not be surprised to find that the current figure is a new record for the retail giant, and combined with its main competitor in the field of JD.com received a combined $ 139 billion in revenue for each sales event. Global as it is, several times more than the sales volume on Black Friday for example – but while every year since 2015 we have become accustomed to tens of percent jumps each year in the sales volume and popularity of the event, the increase this year amounted to a more modest 8 percent figure for Alibaba.

Alibaba did not hesitate to talk about the slowdown in the development of the Chinese Singles Festival on their official blog, but chose to present it as an informed and well-planned choice to look ‘beyond numbers’ and focus on sustainability. Eco-friendly and more) instead of maximum sales only.

Behind the scenes, the allegations are that the slowdown in bachelor day events stems from a general slowdown in the Chinese economy in recent times, alongside increased government pressure and regulation designed to change the developing consumer habits of the country and make them more valuable, and less similar to Western countries.

Along with a disappointing economic report that came a few days after the completion of the Bachelors Day campaign, with a miss of estimated revenue and a drop in net profit, Alibaba shares completed a 22 percent drop in value in about a month and a nearly 50 percent drop since last year – so all The current situation can undoubtedly be described as the troubles of the rich.

By Editor

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