Chinese e-commerce giant Alibaba hosted its annual Singles Day this week, similar to Black Friday or Amazon Prime Day, and recorded an astonishing $25 billion in sales within 24 hours.
The sales numbers exceeded analyst expectations, which were sky-high to begin with, and well above last year’s record of $17.8 billion. Citigroup predicted Singles Day would drive $24 billion in sales, but the day finished at the $25.4-billion mark (equivalent to 168.3 billion yuan). State media estimates that between November 11 (Singles Day) and November 16, over a billion packages will be delivered across China, more than were delivered the entire year back in 2006.
Do you user Alibaba? If so, let us know if you took advantage of Singles Day sales.
(Pictured: Alibaba founder and CEO Jack Ma during an interview with Charlie Rose this year)