The 11 shopping event was so great
Singles Day – celebrated November 11th – has become a massive online store, which involves more than online sales of Black Friday and Cyber Monday combined.
Alibaba transformed the vacation into the annual action event to boost sales on the e-commerce platform. Last year, it generated 25 billion dollars in sales – just after a 24 hour purchase time. 19659003] It's a staggering figure, with a view to Cyber Monday in the US, generating $ 6.59 billion, while Black Friday saw $ 5 billion in online sales the same year.
Other retailers have
Alibaba's rival, Chinese e-commerce giant JD.com, generated $ 1[ads1]9 billion of revenue in an 11-day period centered on Singles Day. Even US tech giant Amazon ] is promoting Singles Day now and sending out e-mails about Singapore's holidays. 19659003] How was it so big?
In 2009, Daniel Zhang, the Alibaba Group's current CEO, launched the concept of offering discounts to consumers on Singles Day. However, the event can be tracked back even earlier, and is believed to have been started in 1993 at Nanjing University for students as a way to celebrate.
Quickly until 2017: Alibaba handled a total of 256,000 transactions per second, and more than 775 million packages were sent from orders generated during the 24-hour period.
This growth is partly attributable to China's vast population of almost 1.4 billion people, as well as the rising middle class increasingly using smartphones.
Alibaba has also exploited China's mobile first market by live streaming events with celebrities and hosting fashion shows that appear on a variety of social media platforms as well as several Chinese television networks.
Last year, Alibaba brought celebrities, including Nicole Kidman and Pharrell Williams, to help with midnight countdown to Singles Day.
