Alibaba’s Singles Day growth decreasing to 14 %

The annual shopping spectacle that has been stretched to cover 11 days totalled $84,5 billion in Gross Merchandising Value for the Chinese online behemoth Alibaba. The total has grown 20+% every year for the last 10 years. This year marked the first time, when Alibaba recorded less than 20 % growth for the Singles Day sales.

The other big Chinese online retailer JD.com recorded sales $48,7 billion during the period. This was also a bit less than 20 % growth (19 %) from last year.

Some of the reasons cited for the slowing growth for Singles Day has been the more strict control of the Chinese government towards the ecommerce giants, supply chain problems and the pandemic difficulties in China.