Singles Day 2019 Brings In Record $31bn in Sales for Alibaba

Alibaba's Singles Day 2019 brings in a record $31bn in sales.

 

SINGLES DAY

Alibaba's Singles Day 2019 breaks last year's record with $31bn in sales.

Infinity Shopping: Alibaba's annual shopping gala - Singles Day - has raked in a record $31bn for the Chinese e-commerce giant. Last year's record was topped in 16 1/2 hours this time. In fact, half of what Alibaba sold during last year's Singles Day was clocked in in less than 90 minutes this time around. CNN Business

 

The world's largest annual shopping spree has been Alibaba's flagship event ever since it was launched in 2009. This year, more than 200,000 brands from 78 countries participated in the festival, with one million new products up for grabs. ET Rise

 

Singles Day 2019 Brings In Record $31bn in Sales for Alibaba

 

It's All About the Yuan: $1bn sold in one minute, $23bn in the first nine hours; $30bn last year and $3bn more this year. Such are the titanic numbers associated with Alibaba's annual 24-hour shopping festival. In terms of money spent, Singles Day rakes in more than Thanksgiving, Black Friday and Cyber Monday combined. Similarly, Alibaba gives international peers like Amazon and Flipkart a run for their money. CBS News

 

Fun Fact: "Singles Day" was originally devised by Alibaba as an anti-Valentine's Day holiday for people who aren't in relationships. It's on 11 November because the date is written as four ones - or singles.

 

FIN.

(Don't want to miss out on these End Of Day Wrap Ups? Subscribe Now to our WhatsApp Feed and get the day's Top Business stories straight on your favourite messaging app.)