Singles Day’18 Totals Are In
While you were sleeping last night Jack Ma and his team at Alibaba were busy tallying their record haul during yesterday’s Singles Day event. This year the eComm giant raked in an amazing $30.8B, which is the largest single-day sales total in the history of mankind. In 2017 Singles Day brought in $25.3B, so Alibaba was up another 27% YoY.
Last week I posted a preview of Singles Day’18, and provided a comparison to some of the other largest eComm sales events of the year. July’s Amazon Prime Day is estimated to have generated $4B in sales (Amazon doesn’t release exact sales totals), and the five day Black Friday weekend window is forecasted to generate $14B in online sales. Keep in mind that the Black Friday total is across all US retailers, not just one company like Alibaba.
Needless to say, at almost $31B in sales Singles Day is far and away the most lucrative event on the eComm calendar. The good times must be rolling over at Alibaba HQ right about now.