Ecommerce, News

Alibaba’s Sales Exceeded USD 1 Billion in GMV in 17 Minutes on Singles Day Sale in China

alibaba sales

Chinese e-commerce company Alibaba sales worth reached upto USD 1 billion in only 17 minutes of its Singles Day sale, an annual 11/11 shopping festival equivalent of Black Friday in China and exceeded USD 2 billion within first hour. The company reported the news via some Twitter Post.

The sale, which company claims the biggest 24-hr online sale, brought in USD 5.75 billion on Singles Day 2013. The company said, this year the festival is global and reaching shoppers in over 200 countries. Till now, it has crossed an estimate of USD 8.6 billion.

The company recently went public in U.S with an deal amount of USD 25 billion and holds the title of the largest IPO of all time.

Amazon China also tried to get a piece of the pie on Singles Day, it officially launched ‘Amazon Overseas‘ on with product categories such as: baby and kids’ stuff, toys, clothing, shoes, sports equipment, beauty products, and health products. These are the items that Chinese consumers aspire to buy from sellers abroad. As per Tech In Asia report, Amazon Overseas allows Amazon China customers to browse the stock of the US Amazon store from within an all-Chinese user interface.

The Indian equivalent of this online sale is the Great Online Shopping Festival (GOSF) and this year it is expected to be organised in December. It will be great to see if Indian retailers are able to get a similar response from the grand sale.

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