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Free sales came to a major Chinese Alibaba sales day



Free Day is the biggest 24-hour purchase event in the world.

12 Nov 2018 at 9:39 (updated 12 Nov 2018 at 10:23) TASR

Shanghai. A huge Chinese Internet Alibaba sold at almost $ 31 billion during the Singles Day shopping center.

This is a new record, on the other hand, the sales growth rate has moderated significantly compared to the previous year.


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The biggest store

As part of the world's largest 24-hour purchase, the Alibaba Internet company sold its value of goods of $ 30.7 billion (27.06 billion euros) on Sunday. This represents a new record.

Exceeding the record last year, he noted the start of sales, when the company sold the goods at 1.44 billion dollars & US for the first two minutes for the first hour around $ 10 billion and nine hours for $ 18 billion.

In the third case, this meant an increase of around $ 3 billion year on year.

Chinese shopping appetite

The latest data shows that the Chinese and US trade conflicts are still high.

On the other hand, analysts expected growth of higher sales, with a growth of 27 percent being a weakness in the 10 year history of the business. In comparison, sales last year increased by 39 per cent year on year.

Alibaba also said that the forecasts are unsure as the economy is already slowing down the pace of growth and it is difficult to predict the results of the trade conflicts.

Immediately for uncertainty about how the situation will evolve over the coming period, Alibaba worsened in the early November estimates of year-over-year sales.


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