This archive report was first published on 13 November 2019.
On November 11, 2019, Alibaba's Singles Day sales reached a staggering $38.4 billion, shattering the previous year's record of $30.7 billion.
According to Techcrunch, the e-commerce giant surpassed expectations, reaching the 500 million customer mark for the e-commerce day.
Alibaba's Singles Day sales outpaced other major shopping events, including Black Friday, which netted around $25 billion in its five-day span, and Cyber Monday, which sold $8 billion.
The company's success can be attributed to its diverse range of platforms, each catering to specific localities and brands. For instance, AliExpress sells Chinese brands to international clients, while Tmall sells worldwide products to China, and Taobao offers Chinese brands to locals.
SEE ALSO: Alibaba's Singles Day Kicks Off With 10% Cash Back for M-Pesa Users
Lazada, which caters to Southeast Asian markets, saw its customers double in this year's shopping spree. 'This year, both buyers and merchants have more than doubled, and we've already seen a series of record-breaking moments. We're looking forward to sharing even more good news,' said Yin Jing, co-president of Lazada.
