There was no Jack Ma to celebrate the success of $38b sales this year that broke all previous years’ Singles’ Day sales records. Jack laid down the foundation of Alibaba in the mid-’90s with his friends and almost 2 decades later, it is growing higher.
No wonder, why Jack is still the richest man in China. Alibaba shows no signs of stopping even after his retirement as the company’s chairman in September this year.
In 2017, Alibaba smashed a Singles’ Day record as sales crossed $25 billion. Last year, 2018, Singles’ Day sales were a record, an amazing $31 Billion in Sales. Jack was so right when he said in 2017 that Today is hard, Tomorrow will be worse, but the day after Tomorrow will be Sunshine
This year, Alibaba Singles’ Day sales hit $23 billion in the first nine hours setting up a nice pace and momentum, all set to break the previous year’s record by the end of the day.
Electronics gadgets, as well as the fashion items, were among the most sold items in the 11th edition of the Singles’ Day annual event.
According to Tech Crunch, it is reported that more than half a billion customers from different countries participated in the event. Singles day event is similar to Black Friday and Cyber Monday. The only difference, well, that’s a huge difference but to put it in perspective, Singles’ Day is much larger.
Alibaba Group reports, it had bagged its first $1 billion in sales in just 68 seconds and the first $10 billion in half an hour. Last year, the five-day Black Friday clocked less than $25 billion in sales and the Cyber Monday clocked less than $8 billion. Alibaba’s Singles’ Day smashes both records by a handy figure alone in one day.
Alibaba continues to dominate the online shopping industry in the world.