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Alibaba Singles Day beats Amazon Prime Day

SHANGHAI, China – Alibaba's Singles Day exceeded Amazon's biggest shopping day in less than 10 minutes. Less than 10 minutes…

SHANGHAI, China – Alibaba’s Singles Day exceeded Amazon’s biggest shopping day in less than 10 minutes.

Less than 10 minutes in, Alibaba’s massive 24-hour online shopping extravaganza had generated more than $ 4.68 billion in sales. For twenty minutes, sales had exceeded 6.5 billion dollars.

In 2017, Alibaba’s Singles Day sales exceeded $ 25 billion.

The exact comparison is that Amazon’s total sales are estimated to have reached $ 4.2 billion over its 36-hour Prime Day in July 2018, according to analyst Michael Pachter, Wedbush Securities Inc. Amazon does not release Prime Day sales figures, but the company said it was “the biggest shopping event in the history of Amazon”, which exceeded sales from Cyber ​​Monday, Black Friday and the earlier premiere date.

Total online sales on Black Friday reached $ 5 billion in 201

7, according to Adobe Analytics data. Cyber ​​Monday sales were about $ 6.6 billion.

Over the last decade, Alibaba has almost unilaterally turned Singles Day – November 11 or 11/11 – to a cultural phenomenon and by far the biggest day of online shopping.

The explosive start of Singles Day comes as a small surprise, despite some news in the Chinese economy. Gross merchandise value includes the value generated globally across Alibaba’s fast-growing ecosystem, which includes, Tmall, and concepts that combine online and offline sales, such as the Hema chain.

A decade of skyrocketing 11/11 sales give increased pressure to send ever higher numbers, according to Dr. Daniel Zipser, a senior partner for McKinsey & Company, which leads its consumer and retail business in Greater China.

“The whole world looks”, regarding GMV figures, Zipser Business Insider told us on Saturday.

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