Alibaba’s Single Day Sales sets new record. $18 billion in 13 hours.
Alibaba Group Holding Ltd. kicked off its annual Singles’ Day shopping bonanza, making a massive $18 billion in sales within 13 hours and the first hour sales itself alone were a wopping $8.6 billion.
This year’s Annual shopping festival made $1 billion in sales, within two minutes of the festival, that started at Saturday
midnight.It was just over halfway through the Alibaba’s biggest shopping day on the planet and it’s already beaten its previous sales record which was a record $17.8 billion in 24 hours last year and also set in a new world record. At the end of the day, the total sales of Alibaba’s Single Day Sales 2017 were a whopping $25.3 billion, more than 40 percent higher than sales on Singles Day 2016 and
a new world record that seems to be difficult to be broken by any other company in at least few years from now.
The Alibaba’s, ‘Singles Day Sales’, has for many years consistently, made more sales in terms of revenue than America’s Black Friday,
Cyber Monday, India’s Filpkart’s Big Billion Sales Day, all combined.
The Worlds Biggest Sales, saw shoppers from more than 190 countries and the products discounted included literally anything from
lobster, washing machines, shoes, iPhones, refrigerators to many other categories, at a rate of as many as 256,000 transactions per
The Alibaba’s Singles Day, were started as a discount deals festival back in 2009, celebrating Chinas’ Single people who were less
fortunate enough to find a pair or have a broken relationship in past. However, some believe that this China’s much bigger version of
Black Friday — began as a protest against Valentine’s Day, created by college students in the late 1990s. The event’s date, written
numerically as 11/11, was associated with unattached singles, known as “bare sticks.”
Alibaba has brought in many key international companies like Levis, Nike, Adidas and L’Oreal onto its platforms. 40% of the brands
taking part in the Sales were Key internation brands.
The sales is a medium of test Alibaba’s logistics network as well as the company promised a remarkable 1 hour straight delievery on
many of the products, which is a kind of unique concept in itself as this has not been attempted by any e-commerce company in any
major sales event in the past.
Alibaba has more than doubled its stock price since december last year, and is now sitting on a market cap north of $475 billion.
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