The special holiday was kicked off at midnight, local time, with a big TV show. Alibaba reportedly destroyed around $ 3 billion in the first five minutes. Singles Day was devised in the nineties by four students. In that year Jack Ma, the founder of Alibaba, started using November 11 to lure people to his internet stores with special offers.
Yesterday China had the biggest bargain festival in the world: Singles Day. That is much bigger scale Black Friday.
Last year Alibaba put on more than 25 billion dollars on Guanggun Jie, as the day is called in Chinese. According to Chinese media, even expensive cars were bought. Especially products from Xiaomi, Apple and Dyson were popular.
Last year Alibaba put on more than 25 billion dollars on Guanggun Jie, as the day is called in Chinese. That was 39 percent more than in 2016.
Conceived by students
Singles Day was devised in the nineties by four students. In that year Jack Ma, the founder of Alibaba, started using November 11 to lure people to his internet stores with special offers.
The special holiday was kicked off at midnight with a big TV show. Alibaba already sold about 3 billion dollars in the first five minutes.
Luxury goods
Not only consumer electronics went well, but also many luxury goods. According to Chinese media, even expensive cars were bought. In the West Alibaba is also trying it followed by local webshops.
Leah Kunze just graduated MBA and is proud of it. She is interested in automotive industry and innovations. She well be glad to receive a mail to [email protected]
