Ecommerce · Industry · Internet

Alibaba rakes the moolah , clocks $14.3 billion in revenues in 24 hours

China’s Ecommerce giant Alibaba reported a bumper Chinese singles day by selling goods worth $14.3 billion in 24 hours. The company broke its last year’s $9.7 billion record. The top product sold on the platform were mobiles phones (62.6 billion yuan) which contributed 70% to the total revenue of the company. The research and analysis company Forrester said in a statement that Chinese consumers are accustomed to buying smart phones online over 76% of their customers were from metropolitin cities. The other items that stole the show were baby related products , Nike sneakers and Levis jeans.

In a statement from Chinese smart phone manufacturing comapany Xiaomi , it sold smart phones worth 1.25 billion yuan on the day across both the platforms Alibaba and JD.com.Xiomi made a spectacular 100 million yuan in sales before the midnight

Single day Overseas

Alibaba has clainmed that it has customer buying its products from the overseas markets as well. Many other retailers in other countries also made moolah on the singles day by selling products to Chinese and other communities living in their respective countries.

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