Alibaba Smashes RecordsDamien Moye
It looks like Amazon has company (thank goodness!). Because there is a Chinese e-commerce company that is making unbelievable profits. Not only that, but Alibaba smashes records wherever they go.
In one day, they sold over $25 billion online. That’s a new record. However, that’s just in American gross dollars. Then take China’s currency, Renmenbi. In just one day, they made over $163 RMB, which equals to over 25 billion US dollars. This also includes international sales, marketplaces, and all their brands. Furthermore, this is a nearly 40 percent increase from their best day last year. That was just a measly $17.79 billion.
So how much is $25 billion a day in sales? Well, our biggest shopping days are Black Friday and Cyber Monday. Their records are $3 billion and $3.45 billion, respectively. Then this makes Alibaba’s best day more then eight times greater than any US retailers’. Yes, this includes giants like Amazon, Walmart and Ebay, or any IT support backed retail company, for that matter. And if that wasn’t enough, $18 billion of Alibaba’s sales came in just 12 hours! And Alibaba smashes records some more. Because now, 90% of their sales were mobile. Of course, this is according to Alibaba leaders. Just two years ago, 69% of their sales are mobile.
So like I said, Amazon isn’t the only candy store in town. That’s a good thing. Free enterprise is based on competition. If you don’t like one outlet, you can go to the other one for better goods and/or services. We constantly keep that in mind at our computer service shop. Now, Amazon, Walmart, and other American online retailers need to keep in mind. I checked out Alibaba. I haven’t shopped on their website, yet, but I see the appeal. Also, I see why they’re making so much money. Now rarely do I sing the praises of international companies, especially those from China. But for those of us who are Walmart and Amazon weary, we just got another choice. Would you shop at Alibaba?