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Alibaba's Singles Day Still Setting Global Sales Records 10 Years Later

A screen displays Alibaba's sales volume exceeding 168.2 billion yuan during the 11.11 Global Shopping Festival in Shanghai, China.

The launch of the event, which featured singer Mariah Carey , Australian model Miranda Kerr and Cirque du Soleil , was broadcast live from Shanghai on two television channels and video streaming platform Youku.

This year’s event is taking place against a backdrop that includes a trade war with the U.S., something billionaire founder Jack Ma recently called the “most stupid thing in this world.” Alibaba, which began in 1999 as a platform for connecting buyers from around the world with Chinese suppliers, benefits from the flow of goods across borders.

As part of the company’s efforts to expand into Southeast Asia, Alibaba’s subsidiary Lazada was pushing Singles Day promotions for the first time in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.

Ma, who is currently ranked the wealthiest person in China with a net worth estimated at $34.4 billion, has been leading the tech giant since he co-founded it with 17 other people in in the coastal city of Hangzhou.

Daniel Zhang, chief executive officer of Alibaba, speaks during an interview at the company's headquarters in Hangzhou, China, on Sept. 9, 2017 (Photo: Qilai Shen/Bloomberg).

READ MORE (Forbes)

  • Alibaba's Singles' Day sales on track to smash 24-hour record in world's ...Yahoo News
  • Alibaba Singles' Day sales hit $10 billion in first hourReuters
  • China's Annual Shopping Frenzy Shatters Records AgainU.S. News & World Report
  • Singles' Day 2018: Here are the best deals for youFinancial Express
  • Alibaba generates 149 billion yuan in sales in first 12 hours of 11.11ZDNet
  • Alibaba sets sales record for opening minutes of Singles' DayBangkok Post
  • Chinese online shopping festival expected to promote Indonesian productsANTARA
  • $400ka second: NZ companies get in on China's mammoth '11-11' saleNewshub
  • The Olympics for brands: why marketers are joining the 11.11 raceThe Drum

This post first appeared on The 5th News, please read the originial post: here

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Alibaba's Singles Day Still Setting Global Sales Records 10 Years Later


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