Alibaba hits record high $30.8 Billion sales in 24-hour during Singles' Day

Jack Ma's Alibaba made a record high sales during Singles' Day of 213.5 billion yuan ($30.8 billion) in its Tmall platform. This years festival marked the 10th edition of the event which celebrated every 11th of November and runs for 24 hours. It is also known as the Global Shopping Festival which was compared to the U.S. Black Friday and Cyber Monday, were Alibaba is giving huge discounts across its platforms.

November 11 record sales surpassed the gross merchandise value roughly 27% higher than last year, with a record value of 168.2 Billion Yuan ($25.3 Billion). 

Alibaba sales had been recorded a large sum of which reportedly came from Lazada which is the company's Southeast Asia platform.

It took just over six hours for crossing the online transaction to reach last yea's full-day record on Tmall Global, the dedicated cross-border portal. The top five countries that sold to China were Japan, US, South Korea, Australia and Germany.

     Employees were busy at the distribution center of a delivery company in Lianyungang, Jiangsu province on Nov. 12, 2018 via xinhuannet

Singles' Day is an occasion invented in China to celebrate being single which was co-opted by e-commerce Alibaba in 2009 and now the world's largest online shopping event.


No comments