What a super duper year it has been for Alibaba. Their IPO launch blew away investors’ expectations with the highest IPO raised at $25 billion. And today is China’s Singles’ Day. It looks like everyone in China bought something online! For those of you who are in the dark, China’s Singles’ Day can be considered America’s Thanksgiving weekend sale rush. The only difference is that it’s all happening on one day – 11.11.14.
Last year, Alibaba raked in $5.75 billion in sales from 2 of its biggest online shopping site – Taobao and Tmall. This year, the company broke through the $5.75 billion threshold with more than 10 hours left to go.
Now get this, nearly half of the sales came in through consumers buying with their mobile phones and tablets. With the surge in mobile internet usage in China, this has made it easier for Chinese consumers to get their shopping done online anywhere, any time.
Not only is this year’s Singles’ Day going to break records again, but it has shown that Alibaba is on the right track in expanding its market reach as it moves beyond China to expand worldwide. Room for improvement? How about having an English site for Taobao and Tmall?
The team at InstanteStore are also hard at work creating a better mobile commerce for our merchants which we will be announcing very soon.
So will this year’s US Thanksgiving weekend be able to top China’s Singles’ Day? Can’t wait to find out as Black Friday is just around the corner.
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