E-Commerce giant Alibaba generates whopping $31 Billion in a 24-hour sale on the 11th November. The last year sale had made $25 billion. The sale was the 10th edition of 11.11 sale which is also called a double 11 sale organised yearly the Chinese e-commerce.
A total of 1,80,000 brands were up for sale among on Alibaba in which Apple, Pampers and Xiaomi were the top brands sold across the customer to 197 countries. The sale witness a discount on every product from a tiny to huge items.
It started with a bang as products worth $3 billion were sold in the first five minutes, and the $10 billion figure was achieved in little over one hour. Executive Chairman of Alibaba Group Jack Ma was present at the countdown gala here.
Alibaba is currently the world’s fifth-largest internet company by revenue below Amazon, Alphabet Inc, JD.com, Facebook.
#Alibaba notched 213.5 billion yuan ($30.7 billion) in sales for its annual 24-hour online shopping spree. Mike Bastin, Principal Consultant at Business Development International, shares his opinion about the figures in this article: https://t.co/SRASJ6BHPS pic.twitter.com/BemRIM0ST6
— China Plus News (@ChinaPlusNews) November 12, 2018
These huge number suggests sooner or later the world is online. In India, the festive sale before Diwali also fetches huge sale. This might be much lower than the Alibaba sale, but it is growing. Looking at the factors Alibaba sale was in 197 countries, but Flipkart and Amazon sales were solely for Indian user and had attracted a huge customer. The Indian E-Commerce giant Before Diwali organised a total of 3 sales.