Alibaba set another record, selling more than $38 billion in goods during the Singles Day shopping festival—an event bigger than Black Friday and Cyber Monday combined
By Stu Woo Nov. 11, 2019 11:54 am ET HANGZHOU, China—For the world’s biggest day of shopping, Alibaba Group Holding Ltd. BABA -0.24% placed traditional drums all over its campus here for employees to bang on each time China’s e-commerce giant reached a sales milestone.
Singles Day combines elements of Black Friday and halftime at the Super Bowl. On Sunday night, American pop star Taylor Swift performed at an Alibaba party in nearby Shanghai that was broadcast across the country in the minutes before the clock struck midnight, kicking off 24 hours of bargains. E-commerce experts say it is hard to draw conclusions about the Chinese economy or Alibaba’s performance from Singles Day alone. Though many of the sales are rung up on Nov. 11 itself, many promotions now begin several weeks earlier. Many purchases are also returned in the following weeks.
Alibaba focused its efforts this year on an increasingly popular marketing technique in China: online broadcasts of what are essentially live infomercials with internet celebrities. Several of them promoted products such as makeup, videogame controllers and Thai banana chips in broadcasts from the Alibaba campus on Monday.
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