Chinese e-commerce giant Alibaba recorded $4 billion dollars worth of sales in less than ten minutes during the 2018 11.11 global shopping festival.
So far, Alibaba has sold $26 billion dollars worth of products.
In terms of smartphones, brands like Xiaomi and Apple sold the most number of smartphones in the first half and hour of the sale. People from more than 200 countries used 27 currencies to buy various products ranging from shampoo to smartphones.
This is the largest online shopping festival in the world. This is the tenth edition of the event.Last year, Alibaba sold $25 billion worth of products during the same event. The sale is around products such as a smartphones, TVs to cosmetics and healthcare products, sanitary napkins and even cars.
TheBigScope was present at the event in Shanghai asked Duan Ling, Head of Tmall Innovation centre whether data privacy policies will affect their growth in other countries in terms of research on consumers, she said that as a policy they do not collect personal identifiable information from shoppers who use their various services.
Tmall innovation centre is the research and analysis wing of Alibaba in China. They provide product insights based on data around people’s buying and search parameters across Alibaba’s various platforms.
Jack Ma, Founder of Alibaba was present at the event. He said that group at large believes data based e-commerce will strengthen their hold on the global online marketplace and search market in the coming years.
As an example, researchers of T Mall found out that people in China who like chocolates also tend to like spicy snacks.This led to the creation of Spicy Snickers chocolate bar. This helped Mars, a healthcare company create the new product in less than two months. Usualy, the company takes three years to research and develop a new product.
Interestingly, the introduction to the singles day sale had a video had Jack Ma and colleagues showing the world how a packaging and delivery takes place
after an order is placed. This resembles an opening video played during an Apple event few years back.