Alibaba Reported It’s Highest Sales Record $30 Billion On Singles Day -2018

Posted by: lukwago J in Business November 11, 2018

Never underestimate the power of single people buying themselves stuff. Chinese e-commerce giant Alibaba reported its highest individual sales day ever on Singles Day, an informal holiday dedicated to people who aren’t in relationships.

Check also: Why Jack Ma Travelled To Kenya And Rwanda With 38 Chinese Billionaires

Singles Day is on 11/11 (see all those “1”s? they symbolize being alone) and has become in recent years a bigger Chinese shopping day than Black Friday or Cyber Monday. Alibaba was a pioneer in offering discounts on the holiday, and their sales are promoted with a live TV show advertising the discounts available on the website.

This year, the sale brought in $30 billion for Alibaba, compared to $25 billion in 2017 and $17.8 billion in 2016.

One wonders if the marketing is getting better or if there are just way more people looking for a Single’s Day treat in these lonely times.

Source: Mashable

Check also;

This is not a Paywall, but Newslex Point's journalism consumes a lot of time, hard-work and money. That's why we're kindly requesting you to support us in anyway they can, for as little as $1 or more, you can support us .

Please use the button below to contribute to Newslex Point, Inc. using a credit card or via PayPal.