Monday, March 21, 2016

Alibaba sold $462 billion of goods in 2015

 Victoria Ho  March 20, 2016
Chinese e-commerce giant Alibaba just announced it sold 3 trillion yuan ($462 billion) worth of goods on its various sites in the past year.
It hit its milestone with 10 days left in its fiscal year ending in March, said executive vice-chairman, Joe Tsai. The 3 trillion yuan is also thrice the volume Alibaba achieved in 2012, and double its transactions in 2013.

To put its earnings in perspective, during the big "Singles' Day" shopping sale in China in 2015 — the country's version of Black Friday or Cyber Monday in the U.S. — it sold 91.2 billion yuan ($14.3 billion) in goods. Over 40,000 merchants took part in the shopping sale, offering a collective six million different products on Alibaba's sites between them

 Its Singles' Day performance in 2015 eclipsed its own the previous year, which was $9.34 billion. To put it into perspective, that was triple the $2.68 billion in sales by all U.S. merchants combined on Cyber Monday in 2014.

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