Alibaba Singles Day 2018

Alibaba broke last year’s Singles Day sales record by generating more than $30.8-billion USD in the annual 24-hour shopping extravaganza. Gross merchandise value, a figure that shows sales across the company’s many shopping platforms, surpassed last year’s $25.3 billion record at around 5:34 p.m. SIN/HK on Sunday, and kept climbing. It even started off with a bang, as sales hit the $1 billion mark in just one minute and twenty-five seconds, while exceeding $10 billion over an hour in. Read more for another video and additional information.

“Alibaba introduced new aspects into this year’s Singles Day. Lazada, a Singapore-based e-commerce site that has operations across Southeast Asia and is majority-owned by Alibaba, hosted its own sales. And, Alibaba’s food delivery platform, provided delivery for select Starbucks stores across 11 Chinese cities. Starbucks struck a deal earlier this year with Alibaba to work together in China,” reports CNBC.


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