Alibaba reported that on a year-on-year basis, sales increased by 25.7 percent, while the number of delivery orders reached 1.292 billion.
E-commerce company Alibaba’s ‘Singles Day Sale’ recorded record sales of $ 38.38 billion (2.72 lakh crore) amid growing trade tensions between the US and China and concerns over sluggishness in the economy.
Sales of $ 10 billion (about 71 thousand crores) were recorded in just 29.45 seconds on various sales platforms of Alibaba Group. This global sales festival broke the previous year’s sales record in 16 hours 31 minutes. In the event of Singles Day Sale (Singles Day Sale), after the end of 24 hours, total sales of 268.4 billion RMB (Chinese currency) i.e. $ 38.379 billion were recorded.
Alibaba said that on a year-on-year basis, sales grew by 25.7 percent, while the number of delivery orders reached 1.292 billion. The entire world was eyeing this global sale of Alibaba amid the ongoing trade tensions between the US and China. “We have registered a good growth in terms of new sales and customer numbers,” said Fan Jiang, Alibaba’s Teammol platform and Taobao president.
Alibaba’s Teammol platform is the largest marketplace for Chinese and international brands and retail vendors selling products from China to customers (BTUC). Similarly, Taobao is China’s leading online sales website. It is owned by Alibaba.