Press statement from Alibaba (before 11.11.17) claimed – 11.11 is more than 18 times the size of Amazon Prime Day and 2.5 times bigger than Black Friday and Cyber Monday combined.
What really happened on 11.11 more than validated this claim.
In just 24 hours Alibaba registered $25 billion in sales. Yep 25 followed by 12 big zeros! ( this is 39% more than 2016 sales).
There are more mind-blogging numbers in the following infographic. They clearly showcase the massive scale of this one of its kind Global Shopping Festival.
But the 11.11 event also gave us the glimpse of the ‘New Retail’ strategy of Jack Ma and how Alibaba Group is well on track to achieve their following ambitious vision:
- Alibaba is not just an e-commerce driven company, but a technology, social, financial and entertainment powerhouse that is well-positioned to compete with the FANGS (Facebook, Amazon, Netflix, Google) globally
- And also well-positioned to compete with the other BAT companies (Baidu and Tencent) in Asia.
To know more about Alibaba’s 11.11 event, don’t miss our next blog which will discuss about the key learning from the Global Shopping festival from B2B ecommerce perspective.
Image Credit: Alizila
Other references: Forbes (Singles’ Day 2017: Alibaba’s Vision For The Future Of Retail)
