Black Friday is almost upon us, but Alibaba doesn’t really care. The company just held its Single’s Day sale, a concept similar to Black Friday sales. Well, that’s only in name. Alibaba has reported sales worth $25.3 billion on single’s day this year, That’s about double the total sales from Cyber Monday and Black Friday combined. Interestingly, Alibaba also registered a 40 per cent increase in sales number over figures seen last year.
Alibaba’s successful sale this year is because the the massive number of retailers that are looking for a share of China’s lucrative market.
Further, it seems Alibaba hit $13 billion in the first 13 hours of the Single’s Day sale. That alone is more than the $17.8 billion number the company earned in the 24 hours from last year. According to market research analysts, Alibaba’s successful sale this year is because the the massive number of retailers that are looking for a share of China’s lucrative market.
Alibaba’s sales aren’t any different from the Black Friday or Cyber Sunday sales either. The company offers discounts on its various platforms, and they’re also as lucrative as those those holidays. The company apparently promoted funny and quirky items that are themed over Single’s Day.
The sale is not new, but Alibaba’s founder Jack Ma himself threw a gala to kick the event off. In attendance were a host of celebrities, including Maria Sharapova, Nicole Kidman, Pharrell and more.