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Alibaba's Singles Day enters healthier phase

November 14, 2022
Source: reuters.com reuters.com
News Snapshot:
HONG KONG, Nov 14 (Reuters Breakingviews) - There were no fireworks from Alibaba’s (9988.HK) Singles Day this year, and that's just fine. The annual Chinese shopping fest was far more subdued than in the past, when staggering transaction volumes, celebrity-studded galas and other excesses were the norm. That says more about the country's gloomy economic outlook than the $187 billion e-commerce titan. The biggest omission this year is Alibaba's final sales tally, or gross merchandise value. The company opted not to disclose the figure and said it was "in line" with last year's performance, which saw roughly 540 billion yuan...
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