Alibaba's Global Shopping Festival, also known as Singles' Day, sold $30.8 billion in goods over 24 hours across 230 countries. This year's online shopping record beat last year's record during the Global Shopping Festival of $25.3 billion by 27%, and easily topped the $5 billion in online sales that occurred in the United States during Black Friday. Artificial intelligence helped the 200,000 offline smart stores and 180,000 brands over the 24 hour period with sales forecasting, inventory management, pricing strategy, and product assortment. Alibaba CEO, Daniel Zhang, stated at the conclusion of the Festival that Alibaba will try to take the entire consumer retail market online.
For context, Thanksgiving Day, Black Friday, and Cyber Monday generated last year a combined total of $14.49 billion.
The top five countries that sold to China during the Global Shopping Festival were Japan, the United States, Korea, Australia, and Germany.
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