Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
China’s Tighter Tech Laws Could Stymie U.S. Demands for Data Handover, Legal Expert Says
China Chip Exec Says Crunch Could End by Mid-2022
Air Taxi Developer’s Listing Shows Tencent Can’t Shake Its Flying Car Dreams
Apple Hopes Cheaper IPhones Will Woo Chinese Customers
Two Chinese Tech Stocks Sizzle on Latest Hot Concept in Virtual Reality
China Tech Stocks Stumble in Rush Back Toward Bull Market
WeRide Joins With Carmaker, Courier to Commercialize Self-Driving Delivery Vans
JD.com-Backed Dada’s Autonomous Delivery Investment Undercuts Revenue Jump
Non-Innovative Medtech Companies Are Winning Too Much Venture Capital, Official Says
Chipmaker SMIC Inks Deal With Shanghai for $8.8 Billion Factory
Tech Insider: EV Sales a Mixed Bag, MediaTek Stays on Top, Xiaomi’s New Direction
BGI’s Gene Sequencer Spin-Off Approved for Shanghai IPO
Smartphone Giant Xiaomi Officially Revs Up Smart Car Business
China’s GPS Alternative Gets Regulatory Roadmap in Push to Boost Adoption
Meituan Faces Fresh Regulatory Trouble Over Mobike Acquisition
China Hammers Mobile Gaming Industry With Tough New Limits
ByteDance Acquires China’s Largest Virtual Reality Headset Maker
Microchip Design Specialist Arm China Takes a Turn Into Autonomous Driving
Tech Insider: Self-Flying Hopeful EHang Runs Into Turbulence, Chipmaker Arm China Joins Auto Drive, iQiyi Gives Up on Its Idols
Self-Flying Vehicle Specialist EHang Hits Earnings Turbulence
China’s Late-Night Shoppers Go Wild for ‘Singles Day’ Presales

By Zhao Runhua / Oct 22, 2019 02:24 PM / Business & Tech

Photo: VCG

Photo: VCG

Bleary-eyed Chinese shoppers — including this reporter — rose late on Monday morning. Piecing together events of the night before, many opened their bank balance statements to find they’d parted with stomach-churning sums of their hard-earned cash.

“Double 11” presales will do that to you. As China gears up for the world’s largest shopping festival on Nov. 11, consumers are filling their baskets with selected products available for pre-ordering online.

On Taobao, the e-commerce platform owned by internet giant Alibaba, livestreamers offered exclusive cut-price deals to fans of everything from Jo Malone perfume, to Oreo cookies, to premium sofas. More than 60 million viewers combined tuned in on Sunday to online channels operated by Li Jiaqi, known as the “lipstick queen,” and Viya, two of Taobao’s leading livestreamers.

Despite drawing heat for allegedly forcing vendors to sign exclusive cooperation agreements, Alibaba says 200,000 brands are taking part in next month’s shopping event, also called “Singles Day” because of the 11-11 date contains four “1”s. The company also expects more than 500 million shoppers — around 100 million more than the total figure last year — to participate, benefitting from around 50 billion yuan ($7.1 billion) in discounts.

Users in less-developed areas will help to drive that growth, Alibaba said in a Monday press release. The company’s Southeast Asian affiliate, Lazada, will join the fray again this year, the company added.

Double 11 is the world’s biggest online shopping event, generating revenue of nearly $31 billion in sales last year. Fortunately, this reporter managed to snap up something to stave off the effects of all those late-night shopping bonanzas — bottles of eye serum.

Related: China Online Retail Sales Growth Slows but Stays in Double-Digits

Share this article
Open WeChat and scan the QR code