Alibaba’s Singles’ Day: Decoding Tmall.com’s Pricing During Retail’s Biggest Sale Event
An average of $11.7 million per second was the rate at which Alibaba clocked $1 billion in sales during the first 85 seconds of Singles’ Day. As Alibaba’s annual sale event continues to grow in scale, referring to it as a global retail phenomenon is an understatement. Alibaba closed the day having shipped 1.04 billion express packages based on sales of merchandize worth 213.5 billion yuan ($30.67 billion).
This performance shredded any lingering concerns analysts may have harbored about the prospects of this year’s sale, given the international backdrop of the ongoing trade skirmish between the US and China.
Along with attractive discounts across a range of product categories, Singles’ Day also promised an integrated experience fusing entertainment, digital and shopping, in stark contrast to other large global sale events like Black Friday, which focus predominantly on discounts.