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Alibaba, the Chinese online trading giant broke a new record. The Chinese spent more than a billion dollars in 68 seconds on Alibaba, during the traditional "Celebration of singles" held every November 11, like the American Black Friday.
In the first nine hours, $ 22 billion was spent on the Alibaba e-commerce site, up 25 percent from last year . The first figures of this feast of singles are very good in a context of trade war with the United States and as Chinese growth stalled.
Electronic products, clothing, make-up have been much sought after. Sales slowed in the major home appliances sector, penalized by the decline in the housing market.
The cloud, home catering
According to Alibaba's estimates, a total of 500 million users are expected to log in for the day, which has become the biggest global sales transaction ahead of US "Black Friday" . That's almost 100 million more than last year. In 2018, Alibaba announced a total turnover for this day of November 11, $ 29 billion in sales in the space of 24 hours.
Figures that reflect the good health of Alibaba Group which also derives its revenues from its cloud computing business, the cloud, but also home-based catering. This sector, as in Western countries, is experiencing a strong development. Next goal for Alibaba: investments in artificial intelligence.
Soon on the Hong Kong Stock Exchange
Symbol of this financial success, the group hopes to raise fifteen billion dollars in Hong Kong during an IPO in the coming weeks.
A highly anticipated event, when the group's founder, billionaire Jack Ma, has just retired . The charismatic billionaire has passed the torch to a team of leaders. It's the discreet Daniel Zhang , the former number two who took the lead.