Market Chatter: Chinese Online Retailers See Rise in Sales, Shoppers During Singles Day

MT Newswires Live11-13

Online retailers in China recorded an increase in sales during the Singles Day shopping festival, Reuters reported Tuesday.

Alibaba (HKG:9988) logged "robust growth" and a "record number" of shoppers during the period, a nod to the digits in Nov. 11, the report said.

The e-commerce giant did not release total sales figures but 45 brands carried on its sites such as Haier Smart Home (SHA:600690, HKG:6690), Midea (HKG:0300, SHE:000333), Xiaomi (HKG:1810), and Apple topped 1 billion yuan in gross merchandising value, a measure of online sales, Reuters said.

JD.com (HKG:9618) did not release sales figures but said the number of shoppers rose during the Double 11 event, according to Reuters.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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