The sales figures of the national shopping festival reflect the strong purchasing power of China
Despite the slowing down of the economy amid trade tensions with the US, Chinese people are still buying. As the shopping extravaganza closed on the 11th of November (known as the Double 11), Alibaba revealed its sales data of RMB 268.4 billion ($38.4 billion) in gross merchandise volume (GMV) on that single day, suggesting a 30% year-on-year growth. The percentage increment is comparatively stronger than last year’s 27%, which was generally interpreted as a healthy sign of the national consumption status. It is reported that there were more than 1.66 billion parcels generated throughout the event, which imposed great pressure on the delivery and expression service providers.