Alibaba is China’s biggest online commerce company that offers consumer-to-consumer, business-to-consumer and business-to-business sales.
Alibaba Singles Day sets new sales records, surpassing Amazon Prime Day 2018 sales
Alibaba Singles Day sets new sales records that surpass Amazon’s Prime Day 2018 sales.
The retailer saw a record of $4.68bn (£3.64) sales in 10 minutes into the Singles Day, outdoing Amazon’s sales of $4.2bn (£3.27bn) during its 36-hour Prime Day 2018.
Overall, the Single’s Day collected $30.8bn (£23.97bn). That’s up by 27% on YoY (year-on-year) rate in comparison to the last year’s sale event. Yet, marking the slowest sales growth increase of the event.
Alibaba’s vice president Jet Jing said that the group’s development of its logistics technology has contributed to the success of the sales day. It helped to handle more than a billion shipments during the Singles Day 2018.
“Behind the transactions, what’s more, is the power of technology and support of our infrastructure,”
-Jet Jing, vice president of Alibaba
Alibaba Singles Day vs Amazon Prime Day 2018 bestsellers
Alibaba Singles Day 2018 saw Apple in different product categories experience the highest sales uptake of $14.36m (£11.18m). But, the group didn’t disclose the number or type of devices purchased by the shoppers during the sale event. The best-selling merchants included Xiaomi and Samsung, which highlights the demand for electronic devices. When comparing this to Amazon’s Prime Day biggest sellers, the marketplace said that it saw worldwide Prime members buy items including Fire TV Stick, Alexa Voice Remote and Echo Dot.
As it appears, shoppers tend to go for highly-advertised products that create a ‘shopping fever’ effect on consumers.
The future of Singles Day
Alibaba says that it aims to make New Retail, which focuses on bleding the best of online and offline experiences, a focuspoint of its core startegy. It will involve uodatingthe group’s inventory to one centralised point to stream both digital and physical practices.
“We will, for sure, continue to evolve and continue to be innovative,” said Zhang. “I think, going forward, people’s lifestyles will change with the development of new technologies and business models.”
-Daniel Zhang, chief executive officer of Alibaba