Alibaba, Record-Breaking and Effect on Global Ecommerce
Alibaba create world’s largest online shopping day. It will influence the rest of the world without doubt.
Last year, Cyber Monday generated $6.59 billion in sales. It was the largest ecommerce day in U.S. history.
Alibaba on Singles Day earlier this week hit that number in about 20 minutes.
It was unexpected. $30 billion in one day ?? It is mind-blowing number.
Singles Day began at Nanjing University in 1993. Four friends decided that because November 11’s date is comprised of ones, it should be dedicated to celebrating themselves as single people. It is antithesis of Valentine’s Day where singles splurge on themselves.
The event spread throughout city during the ‘90s. Alibaba turned it into an ecommerce event.
Apple, L’Oréal, Nike, Nestlé and Adidas choose to participate in Singles Day. China is more than four times the size of the U.S. Singles Day sales amounted to $22.20 per person.
Social media help big time with spreading the news. Most social media in China are banned by the government.
- Facebook and Twitter, there’s a microblogging platform called Weibo.
- WeChat doesn’t even have an equivalent.