Home Business Alibaba’s Singles Day Sales Hit $38 Billion

Alibaba’s Singles Day Sales Hit $38 Billion

by kenya-tribune

Retail Giant Alibaba marked the end of Singles day with sales of $ 38.4 billion, breaking its last year record of $ 30.7 billion. The e-commerce platform mostly sold electronic gadgets and fashion items for the day.

The November 11 sales trumped other popular shopping around the world, retaining its global reputation.

Black Friday netted roughly $ 25 Billion in its five days last year. On the other hand, Cyber Monday sold only $ 8 billion.

According to Techcrunch, the company surpassed expectations of the 500 million customers mark for the e-commerce day.

How Did Alibaba Manage the Sales and Logistics?

Alibaba maintains several dedicated platforms, each focusing on a specific locality and brand. For instance, AliExpress sells Chinese brands to international clients, whereas Tmall sells worldwide products to China. At the same time, Taobao offers Chinese brands to locals.

SEE ALSO: Alibaba’s Singles day Kicks Off With 10% Cash Back for M-Pesa Users

Lazada caters for the Southeast Asian markets, which saw its customers double in this year’s shopping spree.

“This year, both buyers and merchants have more than doubled, and we’ve already seen a series of record-breaking moments. We’re looking forward to sharing even more good news,” said Yin Jing, co-president of Lazada.

Singles Day runs on November 11. The date celebrates the pride of being single because 11-11 resembles four “bare sticks,” a Chinese term for a bachelor.

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