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Alibaba shoppers spent over US$38.4 billion on Singles' Day

By Kenny Yeo - on 12 Nov 2019, 10:14am

Alibaba shoppers spent over US$38.4 billion on Singles' Day

The screen shows the amount shoppers spent on Alibaba's online shopping platforms.(Image source: Reuters)

Alibaba announced that shoppers spent a whopping ¥268 billion or US$38.4 billion on its online shopping platforms over Singles' Day.

That translates to US$1.6 billion an hour, US$26.6 million a minute, or US$443,000 per second.

This is also a good 25% more than last year's record of US$30.7 billion.

Alibaba also said that it clocked its first US$1 billion in sales in just — get this — 68 seconds. And it racked up the first US$10 billion in just 30 minutes.

It also revealed that major brands like Apple, L'Oreal, and Uniqlo all received over US$14 million in sales in the first hour.

To put this entire sales spectacle into perspective, Black Friday was said to have racked up less than US$25 billion in sales last year and that was over a five-day period. Cyber Monday recorded less than US$8 billion.

Source:   Techcrunch