{"id":372896,"date":"2017-11-12T09:23:22","date_gmt":"2017-11-12T09:23:22","guid":{"rendered":"http:\/\/citifmonline.com\/?p=372896"},"modified":"2017-11-12T09:23:22","modified_gmt":"2017-11-12T09:23:22","slug":"alibaba-needed-just-12-hours-to-equal-last-years-singles-day-sales","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/11\/alibaba-needed-just-12-hours-to-equal-last-years-singles-day-sales\/","title":{"rendered":"Alibaba needed just 12 hours to equal last year\u2019s Single\u2019s Day sales"},"content":{"rendered":"<p>Well, it\u2019s 11\/11 on the other side of the globe which means\u00a0Alibaba\u00a0is already raking in loads of cash from Singles Day, otherwise known as the biggest day for global online shopping of the year.<\/p>\n<p>The company has a running sales counter on its\u00a0Alizila\u00a0news website, which details the \u201cgross merchandise volume\u201d that it has fulfilled orders for so far. It\u2019s currently just after noon in China and the company has already surpassed last year\u2019s sales for Singles Day with\u00a0<strong>nearly $18 billion<\/strong>\u00a0USD\u00a0in merchandise sold already, about $7 billion of which was sold in the first 30 minutes of the day.<\/p>\n<p>The company reached $17.8 billion in sales by day\u2019s end in 2016 so there\u2019s plenty more orders to be made with just under 12 hours to go.<\/p>\n<p>Singles Day, a Chinese holiday that\u2019s sort of the single person\u2019s response to Valentine\u2019s Day, is, at its core, a day to treat yourself. Alibaba didn\u2019t invent the holiday, but since 2009 they have come to draw the bulk of global attention for the mind-blowing sales they manage to pull off. It\u2019s similar in theory to events like Amazon\u2019s Prime Day, though the scope is much more expansive for Alibaba\u2019s popular Tmall and Taobao online storefronts which offer a number of deals to entice shoppers.<\/p>\n<p>Smashing through last year\u2019s Singles Day sales will obviously be a great signal for the company which has been having a pretty great year already. Alibaba has more than doubled its stock price since this time last year, now sitting on a market cap north of $475 billion.<\/p>\n<p>&#8211;<\/p>\n<p>Source: Techcrunch<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it\u2019s 11\/11 on the other side of the globe which means\u00a0Alibaba\u00a0is already raking in loads of cash from Singles Day, otherwise known as the biggest day for global online shopping of the year. The company has a running sales counter on its\u00a0Alizila\u00a0news website, which details the \u201cgross merchandise volume\u201d that it has fulfilled orders [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[106],"tags":[3496,139,11546],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Alibaba needed just 12 hours to equal last year\u2019s Single\u2019s Day sales - Citi 97.3 FM - Relevant Radio. 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