Alibaba’s Singles Day Sale started today at exactly 00:00 hours in China, and within minutes, it broke several records of online shopping.
Hailed as World’s biggest online sale festival, which dwarfs Cyber Monday and Black Friday sales volume by billions of dollars, Singles Day Sale is big, and this year, it got even bigger.
30 Minutes Of Singles Day Sale > 6 Days Of Festive Sale in India
Within the first 30 minutes of sale, Alibaba was able to sell $10 billion of goods, which is massive. Just for comparison, both Amazon and Flipkart collectively sold $3 billion of goods within 6 days of festive sales this Dussehra and Diwali!
Hence, within the first 30 minutes, Alibaba sold more than 3-times of what Amazon and Flipkart sold in 6 days.
Gross Merchandise Value (GMV) of $10 billion was crossed in 29 minutes, and 45 seconds, to be precise.
Phenomenal.
Singles Day Sales: Some Facts
Within 1 minute and 8 seconds, Alibaba was able to sell $1 billion of products, which is the fastest $1 billion sale till date, anywhere in the Universe.
In the first 2 hours, total GMV of $17.24 billion was recorded, thereby overtaking 2016’s entire Singles Days Sales volume.
By the time 14 hours of 11.11 Sales was over, $28.63 billion of sale had been completed by Chinese on Alibaba. Last year, total of $30 billion of sales was records on this day.
Last year, Cyber Monday churned out sales of $7.9 billion while Black Friday sales was at $6.22 billion.
At it’s peak, Alibaba was handling 5.4 lakh orders per second, which is 1360 times more than the first ever Singles Day Sale.
Single Days Sale is an annual sales festival conducted by Alibaba, wherein sellers from 78 countries showcase more than 2 lakh products to eager Chinese buyers.
The Singles Day Sale started in 2009, when only $7.8 million of GMV was achieved.
We will keep you updated as more details come in.
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