Alibaba Sells Over $2 Billion Of Goods In 96 Seconds
— 12 November 2019

Alibaba Sells Over $2 Billion Of Goods In 96 Seconds

— 12 November 2019
Garry Lu
WORDS BY
Garry Lu

E-commerce giant, Alibaba, has shattered all previous sales records with their “Singles’ Day” promotion. With an entire array of heavily discounted products on offer across Alibaba subsidiaries such as Taobao, Tmall, AliExpress, as well as some offline retailers – you can imagine what sort of draw this would have. The result? In just a matter of 96 seconds, over AU$2 billion worth of goods were sold.

But the jaw-dropping volume of numbers didn’t just stop there. In just nine hours, total sales would reach AU$30.65 billion. And by the end of twenty-four hours, total sales would come to a grand total of approximately AU$43.8 billion. For reference, last year’s Black Friday five-day sale – the sale event of all sale events in the Western world – only came up to AU$36.5 billion. Cyber Monday pulled even less with a total of under AU$11 billion. 

This achievement seems to have somewhat restored the confidence of shareholders. Alibaba Group Holding Ltd (NYSE: BABA) had slid by 2.6% in value from Friday’s closing price of US$187.13 to US$182.26 in the opening hours of Monday. By the end of the day, however, it had rallied back to US$187.02. 

Well, if there was ever a shred of doubt regarding China’s economic power – it’s safe to say those final, lingering questions have been answered in full with several tens of billions in cash receipts. 

RELATED: “I Was Rejected From Harvard 10 Times”, Alibaba CEO Jack Ma On Persistence.

Garry Lu
WORDS by
After stretching his legs with companies such as The Motley Fool and the odd marketing agency, Garry joined Boss Hunting in 2019 as a fully-fledged Content Specialist. In 2021, he was promoted to News Editor. Garry proudly retains a blue belt in Brazilian Jiu-Jitsu, black bruises from Muay Thai, as well as a black belt in all things pop culture. Drop him a line at [email protected]

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