Business

Alibaba Generates Record $31 Billion Sale In 24 Hour

JAVED SAIFI | 0
7874
| November 13 , 2018 , 15:45 IST

E-commerce giant, Alibaba group on Monday has announced that it has generated a whopping $30.8 billion of sale during the Single’s day sale event.

The Single’s day sale is a 24-hour annual shopping event held on November 11. The company generated $25 billion of record sale last year. 

According to reports, around 1,80,000 brands had participated in the sale on all retail platforms of the company. Pampers, Xiaomi and Apple were among the top brands.

Alibaba that has a strong customer base spread across the 197 countries, attracted more customers on the platform during the event.

In order to attract more customers, Alibaba had provided huge discounts on goods ranging from diapers to mobile phones.

Also Read: Daniel Zhang To Replace Alibaba Group Co-Founder Jack Ma As Chairman in 2019: Report 

The sale was started with a bang as the products worth $3 billion were sold in the first five minutes of the sale event.

The $10 billion of sale was achieved in little over one hour of the commencement of the sale, the company said.

In the month of September, Founder of Alibaba Group, Jack Ma announced that he will step down from chairman post in 2019 and will be replaced by Chief Executive Officer Daniel Zhang. 

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