Alibaba sets new Singles Day 2018 record with more than $30.8 billion

Alibaba sets new Singles Day record with more than $30.8 billion in sales in 24 hours

Jack Ma Yun is a Chinese business magnate, investor, and philanthropist. He is the co-founder and executive chairman of the Alibaba Group, a multinational technology conglomerate.

China’s large e-commerce site Alibaba has sold three billion dollars or 25,137 crore taka worth of goods in the first five minutes of starting online sell on Sunday.
The news agency Indo-Asian News Service said that online shopping site sells 10 billion dollars or 83,791 crore taka for more than an hour after the sell began.

It is worth mentioning that Alibaba sells the goods on November 11th at a special reduced price. This sale festival held on 11.11 is called ‘Singles Day Sell’.
In 2017, Alibaba recorded sales of 25 billion dollars worth of goods in 24 hours. Analysts think the online shopping site this year will also exceed the previous year’s record.
Alibaba Group chairman Jack Ma launched this sell in Shanghai on Sunday.
Los Angeles, Tokyo, and Frankfurt are ordered to buy various products from different parts of the world on Sunday. Buyers give orders from different types of products like Diapara mobile phones.
The world’s second-biggest economy slowed down due to the United States imposing a new tariff on various Chinese products. Due to the trade war with the United States, China’s production of China is expected to decline significantly next year. In this situation, the sales of Singles Day will ease the fear of experts regarding buyers’ confidence.
This year, Alibaba has facilitated the purchase of goods in singles day cell in different markets in Southwest Asia.

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