Alibaba beat Amazon's estimated Prime Day sales within an hour and crushed analyst estimates for Black Friday and Cyber Monday combined

Reuters

An employee works at a Tmall logistics centre in Suzhou.

• As Alibaba reaches the conclusion of Singles Day - its 24-hour shopping extravaganza held each year on November 11 - the e-commerce giant has already crushed comparable US shopping events including Amazon Prime Day, Black Friday, and Cyber Monday.
• Within one hour, Alibaba generated an estimated $13 billion in sales, nearly double the total estimated sales amassed in 48 hours during Amazon Prime Day in July.
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In the battle of e-commerce shopping holidays, Alibaba's Singles Day is once again crushing Amazon Prime Day.

The Chinese retailer generated $13 billion in just one hour, a 32% increase from first-hour sales the year prior and nearly double Amazon's estimated sales during Prime Day in July. While Amazon does not disclose total sales from Prime Day, simply saying it was "once again the largest shopping event in Amazon history" with more sales than Black Friday and Cyber Monday 2018 combined, Internet Retailer estimated that Amazon raked in $7.16 billion globally during the 48-hour period between July 15 and July 16.

While this was a significant increase from Amazon Prime Day 2018's estimated $4.19 billion in sales, it still pales in comparison to Singles Day. Now in its 10th year, the Chinese shopping extravaganza continues to garner significant business and solidify Alibaba as a dominant force in the e-commerce industry.

Alibaba raked in more than $38.3 billion in sales on Singles Day, outpacing analyst estimates for forthcoming Black Friday and Cyber Monday sales in the US.

According to Adobe Analytics, the post-Thanksgiving shopping weekend is expected to bring in $29 billion in online sales this year. In 2018, Black Friday and Cyber Monday reached record highs with $6.22 billion and $7.9 billion in online sales, respectively, Adobe reported.