We mentioned in our last blog post that Chinese e-commerce giant Alibaba just broke it's record for most sales in a day, by making $14.3 billion in sales on the holiday "Single's Day". For those of you who don't know, singles day is a popular holiday in China celebrated on November 11 (11/11) where young people celebrate that they are proud of being single. $14.3 billion already sounds like an impressive figure to make in a single day of sales, but let's add some more figures to this, to get a better perspective on how much money this is. It was more than last years entire annual revenues for Nordstrom, $13.1 billion. It topped Facebook's 2014 $12.5 billion revenue. That's more money than the GDP of Laos in 2014. These huge sales numbers not only show how powerful the Chinese consumers are, but it also bodes well for e-commerce everywhere, as more and more sales are taking place online.
