– This years’ Alibaba Single Day Sales is the 10th edition, and it recorded the highest profit so far in the history of the annual event
– The 2019 SDS recorded its first $billion in just 68 seconds and a little above $13 billion in the first hour
-Overall, the 24-hours sales day ended with the Alibaba group grossing approximately $38.4 billion to beat the previous Gross Merchandise Volume (GMV)- which stood at $30.8 billion
-Alibaba makes an average of $2.3 billion daily, and it would have taken not less than 21 days to gross the same amount as this year’s SD
-It will take other e-commerce giants including Amazon and e-bay more days to gross the same amount recorded in this year’s Alibaba SDS
The 2019 edition of Alibab Single Day Sales (SDS) was no doubt a record-breaking event for the Alibaba group, rounding up the annual event with an overall $38.4 billion to beat the previous GVM which stood at $30.8 billion– about 26 percent increase in Year-on-Year.
The e-commerce giant was looking forward to a more profitable GMV for the annual event and that was exactly what it got at the end of the day. Looking closely into the activities of the Single day’s Sales, there is no doubt that the annual event tagged as ‘Double Eleven (11-11) has continued to progress since inception, as it records a new profit margin in ever YOY sales since 2009.
Also, taking a deeper look into the scenario, if compared to other e-commerce giants across the globe, Alibaba records the most revenue on a daily bases with an average of $2.3 billion worth of sales per day. In the 2018 fiscal year, Amazon which comes close to meeting up with Alibaba records an average of $0.8 billion per day, followed by eBay which stands at $0.3 billion daily for the same period.
By this analysis, it means that it will take Alibaba approximately 17 days to record the same amount it made during the SDS; Amazon will take about 50 days in its own case, and eBay will spend more than a quarter of a year to achieve the same success. Below is an infographic provided by Statista, putting the situation into perspective.
Meanwhile, Alibaba is not stopping in its endeavor to make online shopping a lot easier, the e-commerce giant in the previous week announced that people can now top up their respective Alipay account with International bank cards to make payment in the Chinese mainland. Certainly, this means more profit for the Alibaba group.