NSTworld Alibaba Singles' Day sales hit RM53.8 billion in first hour
Akin to Black Friday and Cyber Monday in the United States, Singles’ Day has been promoted as a shopping fest by Alibaba chairman and CEO Daniel Zhang since 2009, growing rapidly to become the world’s biggest online sales event.
Alibaba saw sales worth US$30 billion on its platforms on Singles’ Day last year, dwarfing US$7.9 billion US online sales for Cyber Monday. Yet the 27 per cent sales growth was the lowest in the event’s 10-year history, spurring a search for fresh ideas. Sales hit the US$1 billion mark in the first minute and eight seconds, Alibaba said. Singles’ Day was among the top trending topics on China’s Twitter-like Weibo platform on Monday morning, with users discussing what they spent on.
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