Yesterday, we reported that Alibaba is well on its way to making history. 2020 is perhaps the most unique and different year of our lifetime. The pandemic badly dented the economies around the world, but for Alibaba, luckily, things could not have been any better.
Sales of Alibaba passed $74 billion. This is almost double the number of Singles’ Day sales last year. Although high sales are likely boosted by longer shopping times as this year, sales lasted 4 days rather than the typical one day on 11 November.
More than 250,000 brands and around 800 million consumers participated in the Singles Day sales, making it the largest shopping event in the world. This year, Alibaba doubled their sales by more than $35.8 billion. It’s a unique record, and because of Pandemic, people preferred online shopping to retail stores, eCommerce sales helped a long way.
Singles day takes place every year on November 11th. Alibaba started a Chinese shopping holiday to celebrate single people who don’t have Valentine’s Day. This year Alibaba followed the sales strategy of US retainers around Black Friday, prolonging the sales duration and this longer duration resulted in the world’s record-breaking sales.