Alibaba Group December 2018 Earnings 992x558 - Alibaba Experience Record Sales of Over $38 billion On Singles Day
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Alibaba Experience Record Sales of Over $38 billion On Singles Day

Alibaba Group has just broken another of their record as they recorded sales of over $38.7 billion in their singles’ day annual event.

The Singles’ day was the 11th edition for the Chinese e-commerce giant and some of the most sold items were said to be Electronics gadgets and fashion items.

Alibaba Experience Record Sales of Over $38 billion On Singles Day | Alibaba, Asia, Kim kardashian, singles day, Taylor swift, Tencent, Tmall

The event which is the Chinese version of a black Friday and Cyber Monday saw participants from lots of countries around the world.

So let do some math here, the black Friday which held for five days brought in less than $25 billion in sales last year. Also Cyber Monday recorded less than $8 billion in sales.

Now Alibaba Group reported it sold just over $1 billion in 68 seconds and then it first $10 billion in the next 30 minutes.😷

As we all know, Alibaba also has a couple of websites which they use to connect those living in China and those living outside the country.

AliExpress for example is used to sell goods made by Chinese brands to people living abroad. Tmall is another branch that sells international goods to people living in China.

Taobao sells Chinese products people in China, Lazada, another subsidiary of Alibaba caters for the people living in the southeastern part of Asia.

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According to Lazada co-president Yin Jing, ” 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.

The shopping glitz hosted a couple of celebrities like Taylor swift and GEM just to generate some fuzz. Kim Kardashian in a live-stream video even said that her fragrance brand KKW will be available at Tmall on the singles day.

Usually we would expect the company’s founder Jack Ma to speak or comment on the huge sales but as we know, he retired in September.

But Alibaba’s CTO commented saying that “11.11 saw an airplane flying at turbo speed,” and making the plane efficient was the company’s biggest focus.

Right now Alibaba’s greatest challenge is expanding it JD.com and Pinduoduo which are used mostly by people in the smaller cities.

Due to that fact, the three of them are always dishing out billions in discounts to keep and retain it customers.

But one thing we know for sure is that yesterday’s sales is gonna put them on top of the food chain and also boost the confidence of shareholders as they would soon begin selling shares worth of $15 billion.

Now we’ll just have to wait till next November 11 to see if they are gonna experience more sales than this or are all the singles in Asia gonna get married.

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Emmanuel
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