Alibaba Made $1 Billion in 85 Seconds

[Crunchy Dragon]

Alibaba has hit a record of over $1,000,000,000 in sales in 85 seconds.

Quote

The online retail blitz known as Singles' Day is an informal holiday for singles on November 11 or 11/11, to symbolize singles, CNN reported.

Alibaba has offered discounts on Singles' Day since 2009, turning the day into an annual 24-hour online shopping spree.

Technology companies Xaomi, Apple and Dyson were the top three brands in early sales.

Not surprised to see Xiaomi up there, being a Chinese company. Vacuum cleaners are also a big deal, apparently.

 

Quote from second source:

Quote

Often compared to Cyber Monday and Black Friday in the U.S., the young, unofficial commercial holiday in China was started in 2009, so singles could learn they really can find happiness by buying stuff -- at least for a day.

 

While Alibaba gets the headlines for the event, other retailers who make big on the date -- uh, sorry, singles, day -- include JD.com, which bills itself as China's largest retailer and the world's third largest Internet company, with partnerships with Tencent, Walmart and Google.

 

Over the years, the event has come to eclipse our Black Friday in terms of sales. Last year, Alibaba's Singles' Day recorded more than $25 billion in sales -- several times the amount spent in our post-Thanksgiving day shopping spree. 

Honestly, this is pretty insane. A billion in under two minutes is pretty crazy in my opinion. I'm almost speechless. I wouldn't be surprised if this was some kind of world record, to be honest.

 

Sources:

https://www.thestreet.com/amp/world/alibaba-s-singles-day-hits-billions-in-sales-in-minutes-14776582

https://www.upi.com/amp/Top_News/World-News/2018/11/10/Alibaba-hits-record-of-over-1-billion-in-sales-in-85-seconds/3601541877587/

Link to quoted CNN article: https://www.cnn.com/2018/11/10/tech/alibaba-singles-day/index.html

[Ruo94]

We may not have a girlfriend. BUT NOTHING WILL STOP US FROM WASTING OUR MONEY!

[Crunchy Dragon]

Just now, Ruo94 said:

We may not have a girlfriend. BUT NOTHING WILL STOP US FROM WASTING OUR MONEY!

I heard they had XL mousepads for $2.

 

Maximum order amount per person: 20

[Spotty]

[leadeater]

The more you buy the more you save

[aezakmi]

they're the 40 thieves now

[GDRRiley]

50 minutes ago, Ruo94 said:

We may not have a girlfriend. BUT NOTHING WILL STOP US FROM WASTING OUR MONEY!

you, I got one recently, and I've only wasted money on food. 

[D13H4RD]

Singles Day sales are huge over in these parts of the world. Think of it like the Asian equivalent of Black Friday.

 

There was a juice maker that went from $100+ down to barely over $5.

[Canada EH]

Quote

$1,000,000,000

Yes and some of it will be funneled as all smart corps do.

 

I really do not need anything, I am not even looking at anything other then the usual shit and they werent even 10% off.

 

If their group of comapnies is making big coin, then the shipping companies are making coin too. Just wonder how much is American vs the rest of the peasants.

[imreloadin]

Makes me wonder how much American companies make on Black Friday.

[Speed Weed]

8 minutes ago, imreloadin said:

Makes me wonder how much American companies make on Black Friday.

Over 10 billions. 

[BananaInSandals]

Alibaba didn't made 1 billion. Alibaba (Taobao and Alibaba express) is like Amazon and eBay where different shops and people sell stuff on the platform. So most of the profit in the 1 billion goes to different shops and individuals selling. 

 

Also, I've always wonder how much of those 1 bil is real transaction and how much is "fake" transaction back and forth to boost the number...

[mrchow19910319]

I bought a deathadder elite, 5 toothpaste, 6 soap.

 

Glad I contributed. 

 

/s

[mynameisjuan]

2 hours ago, huilun02 said:

In sales

Not profit or cut of sales

Either way its impressive to move that much product in that little of time. 

 

I mean that like apple managing to sell a million iphones in a min and a half. 

[asus killer]

China is unstoppable, and when India gets more money it will be a two man battle. No other country can even think to compete with those two markets

[Guest]

4 hours ago, Crunchy Dragon said:

I heard they had XL mousepads for $2.

 

Maximum order amount per person: 20

I have 5 new self-stirring mugs, No longer will I spend the average 2 weeks a lifetime stirring tea. 

[Bouzoo]

2 hours ago, BananaInSandals said:

Alibaba didn't made 1 billion. Alibaba (Taobao and Alibaba express) is like Amazon and eBay where different shops and people sell stuff on the platform. So most of the profit in the 1 billion goes to different shops and individuals selling.

They did make it, just not in profit but in revenue. 

[Canada EH]

1 minute ago, Bouzoo said:

They did make it, just not in profit but in revenue. 

The fee's the umbrella corp made is $1B

[BananaInSandals]

6 minutes ago, VegetableStu said:

sorry, going off tangent for a bit:

imagine there was a wholesale of warranty stickers for cheap and the clause states "no warranty and returns", LOL

Depends on the individuals or shop the items are sold. But most of them have warranty and return policies. However, you'll have to pay the shipping/posting cost, which isn't worth it when you're buying something cheap, like a mouse pad or sticker lol. In some cases, they might just send you another defective one as the whole batch of them are defective anyways lolol

[D13H4RD]

I may or may not have contributed $35 to that figure 

[Tenelia]

In Asia here, most retailers guard their reputation with their life as the most often used filters are to sift out low ratings and low order rates. There have been multiple occasions when I had to ask for refunds on an unsatisfactory product (within 3 months), and each time I've gotten full refunds no questions asked. Customer service is also incredible, with these online retailers taking their own initiative to give me discount coupons, beg me to have a call so I can tell them what went wrong, and so on...

 

In contrast, if I buy anything from Amazon or Newegg, their international warranty service leaves me stranded. Customer support doesn't even care.

[Poofu]

11 hours ago, Ruo94 said:

We may not have a girlfriend. BUT NOTHING WILL STOP US FROM WASTING OUR MONEY!

On VACUUMS! 

[paddy-stone]

[yian88]

Well they have some good clothing articles i cant find fucking half of romania ive been this year and cant find anything so im gon order some today.

[S w a t s o n]

and they stayed up to process $1 billion in orders in 85 seconds. yet even amazon crumbled on prime day. alibaba is on a huge cloud though right?