A boutique in China: Alibaba broke its record online sales

День холостяка в Китае: Alibaba побила свои рекорды интернет-продаж

The Internet giant has sold the goods on $9 billion for the first 20 minutes of the sale.

Every year in November, Chinese Internet giant Alibaba Group beats its own records the Internet sales in a boutique. For the first 20 minutes from the start of the sale, the company sold goods for $9 billion, and for the first hour – $12 billion (for comparison, in 2018 this figure amounted to $10 billion).

But the sales growth rate from year to year is slowing, writes ain.ua with reference to Quartz.

According to estimates by the company this year are expected to participate in the campaign of 500 million people. On the other hand, sometimes sellers during the sale are caught in a dishonest discounts and offers, for example, price increase, replacement of more expensive goods cheaper, etc.

A boutique is a counterpart to Black Friday in China. It is celebrated in China since 90 years, originated among University students. Date 11.11 consists of solid units and symbolizes loneliness. It is believed that November 11 is one of the most favorable in the year to meet new friends and establish relationships.

Sale is not over yet, last year, sales on this day compared with $31 billion in 2017 – amounted to $25.3 billion, and in 2016 – $17.8 billion