Alibaba Singles Day sales hit $75 billion, (Hit highest record)
$75 Billion in 24 hours, Alibaba set the world record
Alibaba group AKA Alibaba group holdings’ reported the singles day sales hit the record of $75 million, it is a considerable increase from last year’s sales figures. It shows healthy consumers’ participation in the world’s second-largest economy.
Alibaba shared the stats and confirmed that the ‘Global shopping festival hits the record of 498.2 billion Yuan which equals to $75 billion dollars’.
Amazon only manages to sell products worth 10.4 billion dollars in its last month’s prime day sales.
It was expected that singles day would generate around 45 billion dollars, around a 20% increase from last year recorded of 38 Billion dollars.
China’s online shoppers made another record of the most sales made on the singles’ Day. It is one of the world’s largest 24-hour shopping event.
Alibaba Group Holding Limited AKA Alibaba group run’s the country’s annual shopping festival day for years. Alibaba officials said that ‘Singles day sales surpass 30 billion within few hours, ending the new world record.
Fun Fact: The founder of the Alibaba Empire, Jack Ma, failed china’s national university exam twice. He met with the internet on his trip to the United States in 1995. the first word he searched was ‘BEER,’ and he was shocked to see the results that there was no information on Chinese products. And in 1999, he started his website.
What is Singles Day?
Singles Day begins as a substitute for the ‘anti-valentines’ celebration for Chinese singles. Since the Day become one of the most significant 24 hours online shopping event. The same concept replicated at the home as well as abroad.
How singles Day connected with E-Comm Industry?
November 11 is written as 11.11 or one – one – one – one.
It is known as ‘bare stick holiday’ due to the way it is written in numbers in China. Singles’ Day started as anti-Valentine’s Day when few Nanjing University students begin to celebrate their singlehood.
After it went viral, the e-commerce industries adopted the concept in 2009, and it has become a day when singles gift themselves.
It is also called ‘Bachelor’s Day’ because of China’s gender variance.
How it became a shopping holiday?
Alibaba chief saw it as an opportunity and launched ‘Double 11’ deals on online deals, and it starts to explode. In the 1st year, the consumer made purchases worth 50 million Yuan.
Are you enjoying your singlehood, or do you even know that there is a dedicated day to celebrate the single let us know by sharing your word in the comments section below.