Alibaba 11.11 Shopping Day Sets New Record With $30 Billion

Posted: Nov 12 2018, 12:50am CST | by , in News | Black Friday 2018

 

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Alibaba 11.11 Shopping Day Sets New Record with $30 Billion

The 24 hour Singles Day shopping event set another record.

Alibaba set a new sales record on Sunday in its annual 11.11 Global Shopping Festival. The Chinese e-commerce giant generated $30.8 Billion in sales within 24 hours, which is an increase of 27% compared to last year. The first billion in sales was reached only 1 minute 25 seconds.

This year the Single Day shopping event celebrated the 10th anniversary. During the 2018 festival, over 40% of consumers bought from international brands. Also, 237 brands topped RMB100 million in GMV, including leading international brands Apple, Dyson, Kindle, Estée Lauder, L’Oréal, Nestle, Gap, Nike and Adidas.

“I think you have to understand Alibaba and what Alibaba’s doing in the context of the long-term secular trend that’s developing in China, which is the rise of the Chinese middle class,” said Alibaba Executive Vice Chairman Joe Tsai. ” That trend is not going to stop, trade war or no trade war.”

Find impressions and more details about the 11.11 Global Shopping Festival 2018 on Alizila.

Compared to Alibaba 24 hour sales event the whole Thanksgiving week and Cyber Monday combined appear really small. The 11.11 Global Shopping Festival pulls in almost three times as much as Black Friday and Cyber Monday in the US.

See also the Walmart Black Friday 2018 ad for the hottest Black Friday 2018 deals. Find all major Black Friday 2018 ads released so far and the best Black Friday 2018 deals to get today.

The early Black Friday 2018 sales are underway. Walmart released its early Black Friday 2018 sale and Amazon launched early Black Friday 2018 deals officially November 1.

Learn how to buy the hottest and most popular Holiday electronics and toys online that are hard to find. The free Tracker app notifies you on your smartphone when the hottest toys 2018 and the newest consumer electronics are in stock online. You can also receive all in stock and deals alert on Twitter @TheTrackerApp.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Manfred "Luigi" Lugmayr () is the founding Chief Editor of I4U News and brings over 25 years experience in the technology field to the ever evolving and exciting world of gadgets, tech and online shopping. He started I4U News back in 2000 and evolved it into vibrant technology news and tech and toy shopping hub.
Luigi can be contacted directly at ml[@]i4u.com.

 

 

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