Alibaba’s 10th annual Singles Day sale, which took place yesterday on 11/11, racked up $30.8 billion in sales and set a new record for the platform, reports CNBC. The figure represents a 27 percent year-on-year rise over 2017’s total of $25.3 billion, and was helped in part by the e-commerce giant’s expansion into in-store retail, combined with China’s large and tech-savvy middle class.
The figure dwarfs the revenue taken during similar major shopping days of US retailers. Amazon’s Prime Day sale in July, the retailer’s biggest day of the year, is estimated to have generated around $4 billion in sales (although Amazon doesn’t report exact numbers), selling 100 million items across the 17 countries. Meanwhile the Black Friday weekend is e...
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