“Singles’ Day’s” Dirty Little Secret
Excerpt
In one minute and 25 seconds, Alibaba scored shock and awe sales of $1 billion. Say again!!? Not only that, sales exceeded $10 billion in five minutes and 21 seconds faster than last year. Then they went on to finish the day selling a whopping $30.8 billion, more than Macy’s does in an entire year. The number of delivery orders surpassed a billion. This was its 10th annual Singles’ Day, (so called because it’s on 11.11). It set an eye-popping historic record, up from its previous record of $25.3 billion in 2017. While this represented a nearly 27 percent increase, it was smaller than the 39 percent year-on-year growth recorded in 2017.