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Sales Record for Online Store Alibaba on Singles Day

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Web store Alibaba sold a record amount of more than 498 billion yuan, almost 65 billion euros, at the famous annual Chinese bargain festival Singles Day.

 

Singles Day will be held on November 11, but several stores in China have already started spreading offers, also to relieve logistics somewhat.

Partly due to the outbreak of the coronavirus and the increased popularity of online shopping, expectations were extra high this year. Alibaba seems to live up to this with record sales.

Singles Day is one of the new, commercial “holidays” where retailers try to entice consumers to make additional purchases with discounts.

Singles Day, which was started as a counterpart to Valentine’s Day, is also gaining popularity in England.

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