Alibaba Had a Record ‘Single Day’ Sales of $25 Billion

An e-commerce giant Alibaba record sale of $25 billion by working with conventional retailers to discounted lobster in market, Apple gadgets and electrical appliances to shoppers in almost 225 regions and countries.

The Chinese company also hosted a star filled Gala featuring Pharrell Williams and Nicole Kidman. CEO Daniel Zhand showed its intentions by saying that the company want to make the event even more global and will take it to overseas some time very soon without specifying a time frame.

Alibaba record sales, 39% increase was posted by annual frenzy means it exceeded Citigroup Inc., and thus flouting the economic recession concerns. The star studded gala helped 82 different brands to top 100 million yuan from sales aspect. These brands are Xiaomi Corp., Nike Inc. and Uniqlo Co. became the most prominent winners.

Zhang said in an interview to Shanghai, “We want to make Singles’ Day a more global event. We could take the gala overseas very soon.”

90% transactions were made through mobile. On the peak, the company’s systems managed 256,000 transactions/second.

According to Citigroup Inc., their transactions would exceed 30% thus making it 158 billion yuan by the end of 2017. Comparing to last year, the growth rate is half. Jack Ma, the billionaire is using the event as a tester to overhaul China’s $4 trillion retail sector with latest technology.

Mike Evans said in an interview with Bloomberg, ‘“The work that’s been done in the integration of offline and online, not just in terms of the technology integration, but the data and efficiencies for brands and the consumer through personalization has been enormous. We see the impact of it in our day-to-day business.”

via Bloomberg