Alibaba 11/11 Singles day sales of 2020 is New World Record of $74 Billion
Yesterday, we reported that Alibaba is well on its way to making history. 2020 may be the most unique and different year of our lives. 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 nearly double the number of sales on Singles’ Day 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. Alibaba’s sales increased by more than $35.8 billion this year. It’s a unique record, and because of the Pandemic, people preferred online shopping to retail stores, eCommerce sales helped a long way.
Every year on November 11th, Singles Day is observed. 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, extending the duration of the sales, which resulted in world-record sales.