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Business

Singles' Day for Chinese online shoppers a huge success

Chinese shoppers have spent billions of dollars in taking advantage of special e-commerce offers made particularly to the nation's singles. The action was meant to distract them from their loneliness.

Chinese buyers on Monday made ample use of a "Singles' Day" providing online shoppers huge discounts.

The shopping bonanza, especially for the country's singles, got off to a brilliant start, with e-tailers confident they'd take in some 30 billion yuan ($5 billion, 3.73 billion euros) throughout the day.

The sales action was to help singles across the Asian country to forget about their loneliness at least for a while.

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Male and female singles are no longer depressed now, because all their attention is focused on the Internet to buy stuff, a poster quipped on Sino Weibo, a Chinese equivalent of Twitter. "But afterwards they will realize their problems have not been resolved."

Be that as it may, sales on the business-to-consumer platform Tmall alone hit over $3 billion by midday.

China has the world's largest online population, with annual e-commerce forecast to reach between $420 billion and $650 billion by 2020. By that time, the country would constitute the biggest online retail market in the world, consulting firm McKinsey estimated.

hg/hc (AFP, dpa)

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