Singles Day Sale of Alibaba, Sales of Rs 2 Lakh Crores in First 14 Hours
In the first 14 hours of the Singles Day Sale of Alibaba, the e-commerce company of China (China) sold nearly 2.04 lakh crore rupees. The online sale started at 12 pm on Sunday night (according to Chinese time) will run till midnight Monday. Accordingly, last year's sales figure of $ 30 billion is expected to be exceeded.
The number of orders the company received in a second reached a record 5.44 lakh. The company said that the Rs 1000 crore figure had touched the initial 1 minute 8 seconds. This is 1360 times more than in 2009. The company started Singles Day Sale the same year.
Alibaba is under pressure this year on the growth front due to trade war between US-China and slowdown in Chinese economy. According to analysts, Singles Day Sale is also expected to grow only 10% this year. 27% last year. On the other hand, some analysts are saying that the number of customers increases on getting heavy discounts, no matter how bad the economy is. Singles Day Sale is also important this year because Alibaba has also been working on Hong Kong's plan to raise $ 15 billion through an IPO for listing on the stock market. It is believed that the figures of Singles Day Sale can be helpful to woo investors of IPO.
In 2009, Alibaba started Singles Day Sale
Please tell, Alibaba started Singles Day Sale in China in 2009. Its day was fixed on 11 November because, on this date, 1111 means four times a single. Singles Day of Alibaba has now become the largest online sale in the world. A similar sale at American CyberManda sold $ 7.9 billion last year.
The number of orders the company received in a second reached a record 5.44 lakh. The company said that the Rs 1000 crore figure had touched the initial 1 minute 8 seconds. This is 1360 times more than in 2009. The company started Singles Day Sale the same year.
Alibaba is under pressure this year on the growth front due to trade war between US-China and slowdown in Chinese economy. According to analysts, Singles Day Sale is also expected to grow only 10% this year. 27% last year. On the other hand, some analysts are saying that the number of customers increases on getting heavy discounts, no matter how bad the economy is. Singles Day Sale is also important this year because Alibaba has also been working on Hong Kong's plan to raise $ 15 billion through an IPO for listing on the stock market. It is believed that the figures of Singles Day Sale can be helpful to woo investors of IPO.
In 2009, Alibaba started Singles Day Sale
Please tell, Alibaba started Singles Day Sale in China in 2009. Its day was fixed on 11 November because, on this date, 1111 means four times a single. Singles Day of Alibaba has now become the largest online sale in the world. A similar sale at American CyberManda sold $ 7.9 billion last year.
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