Alibaba, which is China’s biggest commerce portal, has just smashed every perceivable record when it comes to commerce. During their Singles Day Sales event, which happens on 11th November every year, Alibaba generated record $25 billion of sale, which is a record breaking number. So here is the Alibaba’s Earn $25 Bn In Singles Day Sales.
Alibaba’s Earn $25 Bn In Singles Day Sales
Singles Day Sales
Alibaba’s flagship event on Singles’ Day, which is called Double 11 (also called 11.11 sale), has churned out eye-popping numbers, which has smashed all records.
The sale happens for 24 hours, and within that period, record $45 billion of sale occurred in China, which includes $25 billion recorded by Alibaba, and $20 billion recorded by JD.com.
In fact, if we compare with India, then Alibaba was able to beat entire India’s annual commerce sale within 13 hours!
In 2016-17, Indian commerce was able to generate sales of $14-16 billion; whereas consumers on Alibaba bought products worth $18.7 billion within 13 hours of its sale.
Here are the sales numbers for Singles’ Day for Alibaba, since last 4 years:
- 2013: $ 5.8 billion
- 2014: $ 9.3 billion
- 2015: $ 14.3 billion
- 2016: US$ 17.8 billion
Although no confirmation has been given by either Alibaba or BigBasket, but the report seems closer to truth, because both Softbank and Paytm has expressed their interest in investing in BigBasket, and maybe merge it with Grofers as well.
Meanwhile, Amazon’s ambitions in the food and grocery market is intensifying, as they have already received permission to infuse $500 million in the online food retail market, as they will launch their own private label products.
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