$1 Billion in 8 Minutes: Alibaba Breaks Singles Day Record
If you are wondering why your internet is slower than usual in China today, it’s possibly caused by the heat of the world’s biggest online shopping frenzy.
Alibaba has broken its own record for today with sales surpassing the record amount of $9.3 bn made last year in just over half the time, according to BBC News.
Singles Day, also known as Double Eleven because it takes place on November 11 (11.11) each year is a big event for Chinese retailers.
Alibaba said $1bn was spent in the first 8 minutes after midnight and reflects the drama and excitement for China’s most popular capitalist bonanza.
My boyfriend is our resident Taobao Master and lying in bed last night I heard his alarm clock go off at midnight. I rolled over, “REALLY, babe?”
He smiled sheepishly and I can only imagine how much he racked up on his Alipay over the past 12 hours — a new Xiaomi 42 inch TV, a Xiaomi Air Filter, are just some of the purchases he was excited about.
And the discounts today are pretty amazing, but its ruthless first come first serve. Get it while its hot.
But yes, certainly ecommerce behavior in China is WAY more advanced than anywhere else in the world.
I’ve even started buying all my groceries online with deliveries to my flat twice a week and the selection of fresh herbs, vegetables and foreign goods is just so much better than my local Pines foreign grocery store, which, may have coincidently just shut down last week on Anfu Lu, perhaps it can’t compete with the likes of Kate&Kimi, Fields and epermarket.
And those are just the foreigner sites I use — the local ones are certainly more price competitive and I remember back in 2009 my Chinese flatmate was ordering all her veg and fruit online.
