Big Data Game-Changer: Alibaba’s Double 11 Event Raises the Bar for Online Sales
The Double 11 Global Online Shopping Festival, which has taken place annually on November 11 since 2009, has set new standards for online shopping around the world by generating impressive revenues—which are still rising—and creating an innovative retail experience for consumers. In the just-completed 2016 Double 11 Festival, Alibaba’s shopping platforms achieved a gross merchandise volume (GMV) of $17.8 billion, up from $14.3 billion the previous year. The 2016 event was marked by vigorous online activity, with a peak of 175,000 transactions and 120,000 payments per second. By comparison, the combined online sales for Thanksgiving and “Black Friday”—the annual kickoff to holiday shopping, which occurs annually in the United States on the day after Thanksgiving—totaled about $4.5 billion nationwide in 2015, according to site-tracking data from Adobe Systems. Introducing Alibaba Alibaba Group,…
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