Alibaba sales surge to $5 billion in 15 minutes on Singles Day

Share

Singles' Day now marks the start of a 24-day shopping festival. For which we can thank Chinese e-commerce giant Alibaba. For Alibaba specifically, it expects more than 60,000 worldwide brands to be available across its marketplaces, including Adidas, Nike, Zara and Uniqlo.

Mobile transactions account for 93 per cent of transactions so far this year, a further lift from the whole-day average of 85 per cent in 2016.

PVH Corp. Earns Top Marks in HRC's 2018 Corporate Equality Index
Tyson, which is the largest employer in metro Sioux City, is one of 609 major USA businesses that earned top marks this year. Huntington Ingalls Industries is rated best place to work for the LGBTQ Equality Human Rights Campaign .

In two minutes of sales time, Alibaba's gross merchandise volume totaled $1 billion.

Singles Day is a holiday in China, in which unmarried men and women celebrate their single lifestyle. Last year, Alibaba saw $17.8 billion in sales during the day-long event, far surpassing the $12.8 billion Americans spent in the four days after Thanksgiving.

India's factory output slows to 3.8% in September
The ONS had pencilled in a 1 per cent expansion in manufacturing, following an 0.3 per cent contraction in the second quarter. India's industrial output slowed to 3.8 percent in September from the month ago when factory output grew at 4.3 percent.

The world's biggest online shopping day is under way and - in just one hour - its founder Alibaba Group Holding Ltd. has raked in $8.6 billion in sales. "It's the opportunity for merchants and consumers to have fun and engage in something that's really exciting".

Some websites are also trying to provide shopping tips to global consumers on what products are good to buy during the shopping festival in China.

Gender pay gap 'fundamentally misleading' and promotes 'victim mentality' - study claims
Today marks Equal Pay Day, the day when women stop earning relative to men because of the gender pay gap . This is exactly what the Women's Equality Party seeks to overturn.

Share