Alibaba has set a new record for sales on Singles’ Day.
The Chinese shopping holiday was heavily promoted by the eCommerce giant, resulting in the most successful single-day sales ever recorded.
During last year’s Singles’ Day, Alibaba raked in a record $30.7 billion. This year, the company exceeded expectations, reaching a remarkable $38.4 billion in sales in just one day. Top-selling items included fashion and electronics, according to company executives.
Singles’ Day is celebrated by around half a billion people across several countries. It is akin to Black Friday and Cyber Monday in terms of generating massive sales surges. However, Singles’ Day stands out as the most significant global shopping holiday. For instance, Black Friday last year saw sales of nearly $25 billion. The Chinese event serves as a commercial link between China and other nations, with brands like Dyson and Apple receiving over $14 million in pre-orders.
The event attracted attention from global celebrities such as GEM and Taylor Swift. Live-streaming was widely utilized, contributing to increased engagement. Notably, Alibaba’s founder and recently-retired CEO Jack Ma was absent this year. In previous Singles’ Day events, Ma actively participated, giving speeches and organizing activities for customers and Alibaba staff.
