Shanghai: China on Thursday held a calm version of its annual “Single Day” shopping, Shorn of the regular bragging at sales volume because the e-commerce sector which was bombarded by the country save a lower profile in the midst of government crackdown like Alibaba.
The largest shopping festival in the world for years is accompanied by aggressive promotion and hourly updates panting by the Alibaba industry leader detailing sales figures that continue to increase with the annual GDP of many countries.
But there is no calculation of rolls or winning comments by the executive from the main platform on the middle of Thursday, and the entire affair is almost ignored by the country-controlled media in an indication that the used sales hype that fever might be something from the past.
“Single Day” – called 11.11 – starting for more than a decade ago and for years was a 24-hour event a day.
But Alibaba and his rival has expanded it with expanded promotions from November 1-11, while several retailers and platforms offer discounts, special offers and pre-sales in early October.
“Single’s Day” promotes pre-Christmas “Black Friday” promotions in the United States and has become a consumer sentiment barometer that is very close to the second largest economy in the world.
The platform operated by Alibaba and the nearest competitor JD.com reported a combined sales of $ 115 billion last year.
But the usual buzz was bought on Thursday with the e-commerce platform guarding their heads because of government supervision.
The government has aimed for alleged misuse of user data and monopolistic business practices by online giants, but also motivated partially emerging by wider concerns that large technology becomes too strong and not regulated.
Alibaba said earlier that hundreds of brands had enjoyed a stronger start from November 1 compared to the previous year, but did not give numbers.
A spokesman Alibaba said the number would only be announced after the event window was closed Thursday night.
The government’s examination had shook big players like Alibaba, Tencent, and JD, slicing billions of dollars from their equity values, but experts said the Communist Party in power would not significantly limp ecommerce.
The party conducts a long-term campaign to diversify China’s economy away from excessive dependence on government manufacturing, exports and investment, towards a more market-based model, consumers.
Giants Technology has been very helpful in this effort, and Chinese executives say pandemics have encouraged further online purchases, partly by discouraging directly in crowded shops.
But if Thursday is an indication, “Single Day” is probably a much more calm event in the future.
The government encourages new “general welfare” themes that target the company’s very rich and excessive strengths, and support a fairer distribution of China’s economic benefits.
The aggressive sales pitch “Single’s Day” and the celebration of rampant consumerism can be seen by the powerful communist party as contrary to that goal.
Big Tech’s problem began at the end of last year when the Alibaba Co-Founder billionaire Jack MA issued unprecedented criticism of the Chinese government regulator.
The company was fined $ 2.75 billion, the authority delayed the IPO record with its financial affiliate ants, and other technology giants were hit with fines and business restrictions.
The government has specialized targeted practices used by Alibaba and JD.com such as prohibiting traders from selling their products on a rival platform, and the use of their algorithms to bombard consumers with recommendations for further purchases.
Last weekend, the government issued a special “Single Day” guideline that reminded the platform that misleads claims about discounts or product efficacy, manipulating sales figures, and selling fake products, everything is strictly prohibited.
Media China has reported a less aggressive promotional activity this year.
“Despite the joy, the smell of gunpowder among the e-commerce giants was significantly weakened,” said the respected financial website Jiemian.com in a recent report.
“Single Day” usually produces major headlines in China but goes virtually ignored on Thursday, with many media outlets managed by the state that focuses on the 62-year anniversary of the establishment of the Chinese Air Force, which falls on the same date.