544,000 orders per second: Alibaba sales o Singles Day hit a record $ 38 billion

544,000 orders per second: Alibaba sales o Singles Day hit a record $ 38 billion

A 24-hour sales marathon ended in China, following which Alibaba announced record revenue. Singles Day brought the Internet retailer $38.4 billion, and the company earned the first billion in just 68 seconds
Alibaba set a new record on “Singles Day” which ended in China, reports the South China Morning Post. The retailer’s total revenue from the annual sales festival was 268 billion yuan ($38.4 billion), compared to 213.5 billion yuan ($30.7 billion) last year. Alibaba’s Singles Day figure was equivalent to 80% of Amazon’s online retailer sales in its primary market — North America’s last quarter ($42.6 billion), Reuters said.
Alibaba executives said gadgets, including Apple's Huawei Mate 30 Pro and iPhone 11 Pro smartphones, and clothing, TechCrunch said the best-selling products. About one billion people took part in the sales festival, which is traditionally held on November 11th. Moreover, they were not only residents of China, but also consumers from different countries - from Russia to Argentina, Bloomberg notes.

Alibaba was able to earn the first billion from sales already 68 seconds after the start of the holiday, processing 544,000 orders per second. The 2018 revenue record was broken for 16 and a half hours of sales.

Alibaba Sales Exceed $16 Billion in First Hour of Bachelor’s Day

Singaporean Internet company Lazada, which is part of the Alibaba Group and operates not only in Singapore, but also in Malaysia, Vietnam, Indonesia and the Philippines, said that in the first hour of sales, it received a record 3 million orders from customers in these countries, reports CNBC. At the same time, her Singaporean competitor Shoppe, working in the same countries, reported a threefold increase in orders compared to last year.

Large-scale sales on November 11, Alibaba arranges since 2009. The company connected the “Singles Day” with the student holiday on November 11 (11.11 - four units) - the day of singles and bachelors. The retailer wanted to encourage consumers to make purchases for themselves, without expecting any holidays and the need to buy gifts. In 2019, the festival was held for the first time after the resignation of the head and co-founder of the corporation, Jack Ma (No. 21 in the global ranking of billionaires, a fortune of $37.3 billion).

As Bloomberg previously noted, during a Chinese online sales marathon, Alibaba sells more online goods than all American retailers during a five-day sale, which begins on Thanksgiving and ends on cyber Monday. According to the agency, in 2018, consumers spent about $24 billion in five days of sales. In 2019, this period will last from November 28 to December 1.

544,000 orders per second Alibaba sales Singles Day record $ 38 billion
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