In the battle with e-commerce holidays, Alibaba's Singles Day again loses Prime Minister's Day in the Amazon.
The Chinese retailer generated $ 13 billion in just one hour, an increase of 32% on sales in the first hour last year and nearly double Amazon's sales during Prime Day in July. While Amazon doesn't reveal total sales from Prime Day, simply saying it's "once again the biggest shopping event in Amazon's history" with more sales than the combination of Black Friday and Cyber Monday in 2018, the Internet retailer estimates that Amazon It rocketed at $ 7.16 billion globally during the 48-hour period between July 15 and July 16.
While this was a significant increase from Amazon's estimated $ 4.19 billion in sales, it still feels compared to singles day. Now in its 10th year, Chinese trade extravagance continues to garner significant business and consolidate Alibaba as a dominant force in the e-commerce industry.
Alibaba made more than $ 38.3 billion on Singles Day, surpassing analysts' estimates of the forthcoming Black Friday and Cyber Monday sales in the United States.
According to Adobe Analytics, the post-Thanksgiving shopping weekend is expected to bring $ 29 billion in sales online this year. In 2018, Black Friday and Cyber Monday reached record highs of $ 6.22 billion and $ 7.9 billion in online sales, respectively, Adobe reported.