More than $1billion of Australian products were bought by almost 800 million Chinese within 24 hours at the world’s biggest shopping festival.
In the first half hour of the mega shopping event on Wednesday, a staggering $77.3 billion was transacted to Chinese e-commerce giant Alibaba.
Online shoppers bought items such as apartments, cars, luxury handbags, home appliances, and daily necessities.
Singles Day (pictured above) has developed into an enormous global shopping festival in recent years
Singles Day in China (pictured above) is the largest online shopping festival in the world
‘We continue to see strong enthusiasm from Australian brands to participate in the 11.11 Global Shopping Festival’, Maggie Zhou, the Managing Director of Alibaba in Australia and New Zealand, told the ABC.
‘The Covid-19 pandemic has significantly accelerated the digitalisation of many retailers and businesses and many consumers have shifted their behaviours and turned to e-commerce.’
The figures were encouraging after China imposed a raft of trade measures on Australian exports.
It followed the ugly escalation of diplomatic tensions since Prime Minister Scott Morrison called for an investigation into the origins of Covid-19 in April.
Jeremy Hunt, the chief operating officer from Health More, one of Australia’s biggest distribution platforms of domestic products to China, said at least 2,000 Australian businesses took part in the shopping event dubbed Singles Day.
‘Singles Day has grown into this massive online beast… it has grown beyond China, and it’s grown beyond Alibaba,’ he said.
Official data released by the Chinese Ministry of Commerce revealed Chinese consumers spent more than $38.6 billion on CBEC sales last year.
Australia accounted for 10.2 per cent of the total, retaining its spot as the fourth-largest exporter in the sector.
The shopping festival, which is a frenzied time for warehouse workers (pictured above), is the world’s largest and typically begins in November
Australian brands were again the fourth most popular overseas products, behind Japan, the United States and South Korea
Despite the simmering trade tension between Australia and China, a reputation of being high quality and safe keeps Australian brands popular in the lucrative market.
‘People-to-people relationships on the ground remain strong and we are positive about the future of commercial relations,’ AustCham Shanghai executive director Bede Payne said.
General consumer demand for these types of products have not diminished in recent times.’