Alibaba Group- The Multinational Conglomerate, recently hosted its’ singles day sale in China on 11th November. The sale is also referred to as ‘Double 11′ and this year, it was the 11th edition of the Annual Alibaba Singles’ Day event. The Singles’ day event falls on 11th of November every year and is dedicated to the people who are not involved in a relationship.
Insights Into The Event:
- Total Goods worth 268 billion yuan/ $38.4 billion were sold in a single day.
- Electronic items and fashion goods were amongst the most sold goods.
- This global shopping event racked up sales of $13 billion in the first hour.
- More than 200,000 brands from 78 countries participated in the event.
- Aliyun, Alibaba’s cloud computing system was processing 5,40,000 transactions per second.
- Grammy Award winning singer-songwriter Taylor Swift performed live at the event
- Alibaba’s logistics arm dispatched more than 100 million packages of preordered goods.
- The live stream by Kim Kardashian and Viya was watched by more than 12 million people.
- An additional staff of 4,00,000 workers had to be hired by delivery companies to get goods to customers.
- The sales figures surpassed the total combined sales predictions of Black Friday, Thanksgiving and Cyber Monday sales.
Fan Giang, President of Taobao and Tmall, stated that their goal is to stimulate consumption demand and support lifestyle upgrades in China through new brands and products. Small store owners also make a large percentage of this annual sale.
Jeff Zhang, the Chief Technology Officer of Alibaba described 11.11 as ‘an airplane flying at turbo speed’. He emphasised that making this airplane more efficient has been the company’s biggest focus.
In order to improve the logistics network, Alibaba Group announced an additional investment of $3.3 billion for the logistics unit Cainiao.
This year’s 11.11 will surely be a remarkable milestone for the Alibaba Group.
What are your views about this event?
Have you ever experienced shopping from Alibaba?