×
320
Fashion Jobs
VIJAY SYSTEMS ENGINEERS PVT LTD ( UMBERGOAN)
Production Manager
Permanent · Vapi
VIDVAS HR SOLUTIONS PRIVATE LIMITED
sr Manager - Production . Only Leather Bags Exp - Chennai
Permanent · Chennai
SHREE SADGURU MASALA & SPICES IND PVT LTD
Regional Sales Manager
Permanent · Navi Mumbai
MAGNATEK ENTERPRISES
Looking For Area Sales Manager
Permanent · Chennai
BANDHAN LIFE SCIENCE PRIVATE LIMITED
Area Sales Manager
Permanent · Kolkata
WINGS PHARMACEUTICALS
Area Sales Manager - Generic Division
Permanent · Ludhiana
FIRST SOLUTION
Agency Development Manager/Recruitment Development Manager(Insurance)
Permanent · Pune
NCL INDUSTRIES LIMITED (BISON PANEL)
Area Sales Manager - Hyderabad (Boards Division)
Permanent · Hyderabad
LN GLOBAL CAREER SERVICES LLP
Required Regional Sales Manager For Pharmaceutical Company
Permanent · Chennai
LN GLOBAL CAREER SERVICES LLP
Required Zonal Sales Manager For Pharmaceutical Company
Permanent · Chennai
LEVI'S
Group Product Manager
Permanent · Bengaluru
AVENUE SUPERMARTS LIMITED
Excellent Opportunity With Dmart _ Production Managers
Permanent · Chikmagalur
ENOAH I SOLUTION INDIA PRIVATE LIMITED
Area Sales Manager
Permanent · Bengaluru
KISHOR EXPORTS
Garment Technician
Permanent · Agra
CENTURY PLYBOARDS (I) LIMITED
Area Sales Manager - Delhi / Ghaziabad
Permanent · Ghaziabad
KEYAL EMPIRE DESIGN PRIVATE LIMITED
Production Manager
Permanent · DELHI
MAHINDRA HOLIDAYS AND RESORTS INDIA LIMITED
Sales Team Manager/sr . Sales Manager/Territory Sales Manage-Bangalore
Permanent · Bengaluru
SERVOTECH INDIA LIMITED
Sil - Production Manager/ Quality Manager - Tarapur (Boisar)
Permanent · Tarapur
JOB INDIA
Area Sales Manager- Operations (Garment Retails)
Permanent · Gurugram
MAHINDRA HOLIDAYS AND RESORTS INDIA LIMITED
Team Manager/ Territory Manger- Sales- Meerut
Permanent · Meerut
HARI DARSHAN SEVASHRAM (P) LTD
Area Sales Manager - Punjab
Permanent · Ludhiana
ALGOR SUPPLYCHAIN SOLUTIONS PRIVATE LIMITED
Hiring For Sales Manager in Logistic co| Hyderabad | Bangalore
Permanent · Bengaluru
Published
Nov 12, 2018
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Alibaba’s record sales on Singles' Day points to solid consumer spending

Published
Nov 12, 2018

Luxury goods stocks have been hammered in recent weeks by concerns about weakening demand in China, the market’s main engine of growth and worries about the knock-on effects of a looming trade war with the United States. But the real picture is much more mixed, Michael Evans, chairman of Alibaba, China’s biggest online retailer, told a conference on Monday.


A big screen shows the sale surpassed 10 billion RMB with in 2 minutes during the Double 11 Shopping Festival of Alibaba, in Hangzhou, China, on November 11, 2018


“Clearly, the economy has slowed down for big ticket items such as fridges and cars, but cosmetics, accessories and fashion have seen continued growth,” said Evans, speaking at the New York Times International Luxury Conference in Hong Kong.

China accounts for around 35 percent of luxury goods consumption worldwide, a figure analysts expect will rise to 44 percent by 2024.

Evans was speaking hours after Alibaba, China’s biggest online bazaar, broke another record during its Singles' Day extravaganza on Sunday Nov. 11, with sales reaching $31 billion in one day, up from $25 billion last year.

Evans said 46 percent of Alibaba’s customers were people born after 1990 and 80 percent were born after 1980. “These are very young people who live their lives on their mobile phones and who are heavily influenced by key opinion leaders and social media,” Evans said. But “to sell $31 billion in a day means there is not much of a slowdown.”

Last month, Alibaba and Yoox-Net-A-Porter, which is now part of Cartier-owner Richemont, signed a partnership to launch two mobile applications for Net-A-Porter and Mr Porter online retailers for consumers in China.
 
China’s economic growth is projected to slow down slightly next year to 6.1 percent from 6.6 percent in 2018 with 65 percent of its growth generated by personal consumption, economists estimate.

“Consumers are tightening their purse strings,” Jing Ulrich, vice chairman of Asia Pacific for J.P. Morgan, told the conference. “Consumers have become choosier, they value authentic, heritage and authenticity when it comes to luxury products.”
 
Ulrich added that car sales had fallen in recent months in China partly because people were wondering if they should own a car, since they could just rent one when they needed one.

Copyright © 2021 FashionNetwork.com All rights reserved.