Alibaba Sees Record Sales On Singles’ Day

Singles’ Day is over, and the day was a huge success for Alibaba.

The popular Chinese shopping holiday was aggressively advertised by the eCommerce giant, a fact which has paid off with the most successful single-day sales recorded by far.

Last year’s Singles’ Day sales brought a record $30.7 billion dollars to China’s eCommerce giant. This year, Alibaba shot well past the mark, making a record $38.4 billion in just one day. The company’s record sales were primarily driven by fashion items and electronics, executives explained in an interview.

Singles’ Day is typically observed by half a billion people in a handful of countries. The event is comparable to Black Friday and Cyber Monday, which also tend to produce massive jolts in sales. However, Singles’ Day is by far the world’s most active shopping holiday. For comparison, last year’s Black Friday saw just under $25 billion in sales. The Chinese holiday is, however, a commercial bridge between China and other countries. The company reported that several brands, including Dyson and Apple, received more than $14 million in pre-orders.

The occasion was also observed by several global celebrities, including GEM and Taylor Swift, among others. Live-streaming was also put into extensive use, helping create even more traction. However, Alibaba’s founder and recently-retired CEO Jack Ma was noticeably absent this year. Ma has shown up for past Singles’ Day events consistently, delivering speeches and putting on various events for customers and Alibaba employees.

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4 years ago