Alibaba broke the previous year’s record in gross merchandise volume (GMV) of Single’s Day, with an astonishing $30.8 billion (213.5 billion yuan), on Sunday. Its growing trade has also resulted in the expansion of the logistics operation – the processed order quantity reached 1 billion, which has skyrocketed 3,800 fold over the past 10 years, equivalent to 20 days in the USA and 4 months in the UK. The generation born after 1990 accounted for 46% of the total consumption, and the purchasing focus has been transformed from “buy cheap” to “pay for quality”.
