The World's Biggest Shopping Day - USD 5 Bn Sales In 90 Minutes
Alibaba has surprised us in many ways before - we spotted this stat today -
"In China, it’s already November 11, or 11/11, and the massive e-commerce event known as “Singles Day” is already well under way. Launched by Chinese e-commerce giant Alibaba in 2009, the idea is that for a full 24 hours, shoppers who are unmarried and unattached should go online and splurge on a nice gift for themselves.
In the first 90 minutes after the Singles Day kickoff, at midnight in Beijing, Alibaba said it surpassed $5 billion in total sales. Seventy-four percent of those were from mobile phones. And international brands—from Nike to Apple—often offer discounts to lure more buyers."