CHINESE e-commerce giants alibaba Group and JD.com concluded their latest Singles Day, the world's largest shopping festival, failing to announce sales results as they usually do, reports Hong Kong's South China Morning Post.
In separate statements, both companies for the first time withheld announcement of their gross merchandise volume (GMV), or final sales tally, from the annual online and offline shopping extravaganza that ended on November 11, known as '11.11'.
Alibaba said its 14th annual 11.11 campaign 'delivered results in line with last year's GMV performance, despite macro challenges and Covid-related impact.' Alibaba's GMV in November last year grew 8.45 per cent year on year to a record CNY540.3 billion (US$84.5 billion), which marked the first single-digit GMV growth since the company created the shopping festival in 2009.
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In separate statements, both companies for the first time withheld announcement of their gross merchandise volume (GMV), or final sales tally, from the annual online and offline shopping extravaganza that ended on November 11, known as '11.11'.
Alibaba said its 14th annual 11.11 campaign 'delivered results in line with last year's GMV performance, despite macro challenges and Covid-related impact.' Alibaba's GMV in November last year grew 8.45 per cent year on year to a record CNY540.3 billion (US$84.5 billion), which marked the first single-digit GMV growth since the company created the shopping festival in 2009.
SeaNews Turkey