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11/15/2017

Topic Reading-Vol.2044-11/15/2017

Dear MEL Topic Readers,
Alibaba's Singles' Day by The Numbers: A Record $25 Billion Haul
China is leading the world, in various areas. High speed railways, solar power plants, and electric vehicles only to name a few. But their leading roles aren’t limited in hardware or infrastructure that could be invested or subsidized by the government. Their mobile payment and e-commerce are rapidly growing, and accordingly, their consumer engagement is getting more sophisticated and integrated.
Just within 24 hours on the 11th day of the 11th month of the year, China’s e-commerce giant Alibaba’s e-commerce businesses generated $25 billion of sales, a 40% increase from last year. Compare that amount to $6.79 billion, the total sales by all the retailers in the U.S. on Black Friday and Cyber Monday combined in 2016, you will find how significant the retail event is. Also, thanks to their de-facto standard mobile payment platform Alipay along with WeChat Pay, 90% of the purchases were made by mobile phones.
Enjoy reading and watching the video to learn what this retail-tainment is about.

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