Alibaba Singles Day shopping sales reached a whopping $25 billion. It has many elements to it including entertainment, consumerism, and commerce.
Numbers of Alibaba Singles Day Shopping Sales
There are so many happening at the Alibaba Singles Day that it becomes difficult to have a look at its enormity. So, here is a look at Alibaba Singles Day shopping and gauge its massiveness.
Sale in Billions
So, it took 24 hours for the company to register a massive revenue number of $25.3 billion. The new figures comfortably break the record of the last year’s $17.8 billion.
Why is it such a big deal?
Well, the total sales figures for the US market include Cyber Monday, and Black Friday amounted to $6.79 billion. There are many things that experts believe contributed to this massive number. However, they think intelligent recommendations to users and a personalized experience are vital pillars. The company sits on large consumer data, empowering it to use those insights intelligently.
Total Number of Brands Showcasing their Products
The company showcases around 140,000 brands. There is an increase of more than 40% in the number of brands participating in this festival. The labels can rely on Alibaba’s data-driven marketing to empower brands to target the customers. Some of the world’s leading brands include Starbucks, Nike, Bose, GAP, P&G, and Estee Lauder.
Total Product Listings
Alibaba enlists around 15 million products. The top category that sees most sales relates to baby and wellness products. The Chinese consumers are overwhelmingly concerned about their health. It does not necessarily mean that they buy local products. The company imports many of the products from countries like South Korea, Germany, Australia, the US, and Japan.
Payments Processed Via Alipay
There is massive money involved in the Alibaba Singles Day shopping spree. Out of the total money, $1.48 billion were paid via Alipay. The consumers made the rest of the payments via mobile. The advanced mobile payment system lets the customers easily make the purchases online. The users using mobile payments in the west for online shopping is less compared to the scale at which it is done on Alibaba Singles Day shopping.
Total Orders Placed
On this day alone, around 812 million total orders were placed, still in the process to be delivered in the next few days. Alibaba is already working on ways to introduce smart logistics by analyzing big data. Thus, once it can implement it, the management believes it would be able to deliver the products to end customers quickly.
If this is the level of ecommerce that the company can generate, imagine what will happen when Alibaba comes to Pakistan.