APAlibaba Group on Friday opted not to disclose the final sales tally of its annual Singles Day shopping festival for the first time since it started the event in 2009, only saying the results were in line with last year.
The e-commerce platform's growth merchandising value was widely predicted to post flat to low single-digit growth, underscoring weak Chinese consumer sentiment hit by stringent COVID-19 curbs and a sharply slowing economy.
Alibaba did not immediately respond to requests for comment on its decision after the official 11-day sales event ended at midnight on Nov. 11.In a press release, it said the event had "delivered results in line with last year's GMV performance despite macro challenges and COVID-related impact."
The e-commerce platform's growth merchandising value was widely predicted to post flat to low single-digit growth, underscoring weak Chinese consumer sentiment hit by stringent COVID-19 curbs and a sharply slowing economy.
Alibaba did not immediately respond to requests for comment on its decision after the official 11-day sales event ended at midnight on Nov. 11.In a press release, it said the event had "delivered results in line with last year's GMV performance despite macro challenges and COVID-related impact."
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