Here's a look at the largest online shopping extravaganza of this year- Alibaba's Singles' Day
Advertisement
Advertisement
(The climbing sales figures of Alibaba/ Reuters)In the past week, e-commerce websites, led by
As expected, the criminal waste of time, effort and money in publicizing these week long sales- be it Flipkart’s Big Billion Day, Amazon’s Great Indian Festive Sale or Snapdeal’s hourly deals did pay off with the websites witnessing massive sale figures.
But, were the figures any good?
Advertisement
Every year, China celebrated
That changed six years back when e-commerce giant
In a surprising twist of events, Alibaba’s revenue from Singles Day was even greater than the sales figures of both Cyber Monday and
(A look at Alibaba's Single's Day sale figures)
Advertisement
It goes without saying that Alibaba's one-day sale figures were even greater than that of Flipkart’s (which leads in India with a 44% market-share) six-day sale bonanza.
The company’s sales rose 60% as compared to 2014 with it bringing in close to $14.5 billion over the 24-hour shopping period.
Incidentally, it took Alibaba (which holds a massive 80% share of the Chinese e-commerce market) just 12 hours to surpass its previous year’s sales, which stood at $9.3 billion. It is also expected to ship approximately 17 lakh products on orders received during the Singles Day sale.
However even Alibaba’s astronomical sale figures couldn’t salvage its declining share price; (with shares closing down 2 percent in New York) the outcome of founder
Advertisement
Advertisement
- Amid heatwave, Delhi's power demand soars to May's highest ever at 7,572 MW
- 84% of Indian small businesses anticipate robust growth in 2024: CPA Australia survey
- Go Digit IPO allotment – How to check allotment, GMP, listing date and more
- 10 breathtaking valleys to visit in India in 2024
- Following Rohit Sharma's accusation, IPL broadcaster Star Sports denies airing audio of any personal conversation
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market