Alibaba has smashed its Singles Day record as its selling record crosses $25 billion. The e-commerce giant has recently sold more than $25 billion of products.
Alibaba has smashed its Singles Day record as its selling record crosses $25 billion. The e-commerce giant has recently sold more than $25 billion of products on Chinese largest online shopping date. In terms of GMV or gross merchandise volume, Alibaba has made sales of 163.8 billion RMB or $25.3 billion USD. According to the reliable statistics, most of the sales (in Alibaba’s case) are predominantly obtained from its Tmall brand store and Taobao marketplace. Apart from that, this renowned e-commerce giant offers international services and ships its products worldwide. It was further revealed that Alibaba handled roughly 1.48 Billion transactions during a timeframe of 24 hours.
In last year, Alibaba’s sales record was approximately 120.7 billion RMB or $17.79 billion USD. Hence, the platform has witnessed a steep rise in their sales record (that is as much as 39 percent) on this financial year. With this, Alibaba has enjoyed another super blockbuster quarter as its revenue has been surged by 61%. Note, most of these revenues have been generated from their core businesses in China.
Alibaba’s impressive Singles Day haul now puts Americas biggest shopping festivals in the side corner. For example, on Black Friday, American retailers had pulled in a selling record that’s worth about $3 billion. Likewise, Cyber Monday shopping bonanza witnessed a total of $3.45 billion sales. Obviously, Alibaba’s gigantic Singles Day selling record easily beats the aforementioned records.
Starting from 2013 to till date, Alibaba’s business revenue has been considerably increased. And, that’s why they really need to show progress in the upcoming years so that their revenues can be increased subsequently.
The current CEO of TMall, Daniel Zhang that was earlier assigned as in-charge of a business unit coined the idea where single people can feel less lonely. Since then, his brilliant idea blossomed into the world’s largest and biggest single shopping date (in terms of profit margin and revenue).
Note, the platform typically makes money from its e-commerce business in two different ways. For example, the company charges a store-fee and commission to all brands which are accepted to the Tmall. Alternatively, Taobao does not charge fees to its merchants, rather it charges money for posting ads which can boost their store visibility and product sales. This year, approximately $7 billion of goods were sold just within the first thirty minutes of that day. Another key metric is their mobile users. It seems that their mobile users are now more engaged that is obviously another important goal of Alibaba’s success. By targeting mobile users, Alibaba is now successfully able to reach a new group of internet users who tend to be interested in buying their products. Around 90% of their total sales were made by the mobile users. Whereas, this number was just 69% in 2015.
For your reference, a brief overview of Alibaba’s important stats are provided below:
– Alibaba Cloud that handles the infrastructure has managed around 325,000 orders at peak
– Total number of orders is 812 million
– Alipay has processed $1.5 billion payment transactions
– More than 140,000 brands took part on the Tmall store where they offered around 15 million product listings
– 167 merchants has generated more than 100 million RMB or $15.1 million
– 17 merchants surpassed $75.4 million or 500 million RMB
– 6 merchants surpassed $150.9 million or 1 billion RMB