Dear MEL Topic Readers
Alibaba Singles Day sales top $30 billion
How substantial $30 billion is? It is about the GDP of small or developing countries ranked about 100th in the world, such as Jordan or Tanzania. Alibaba, China’s e-commerce giant, generated record sales exceeding $30 billion during the 24-hour sales extravaganza, known as Singles Day Sales on 11/11/2018. The sales event has been taking place every year since 2009 and is now held in other Asian countries such as Singapore, Malaysia, Indonesia, Thailand and Vietnam by Alibaba’s subsidiaries.
Most of the orders came from smartphones and most likely paid by Alipay, Alibaba’s online payment platform. The company not only generated the biggest sales of the year but also collected an enormous amount of personal data. Who buys what and how much will make the online e-commerce site more attractive to not only online shops but also advertisers.
Brick-and-mortar shops also took advantage of the sales bonanza, as well as exporters in Japan, the US, and Australia.
Christmas, Valentine’s Day, and Fathers or Mothers Day were all originated in Western cultures. Now, this single-day sales event created by a Chinese firm seems to spread to other parts of the world as well.
Enjoy reading and learn what this sales event will be like ten years from now.
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