{"id":73012,"date":"2014-11-11T08:08:53","date_gmt":"2014-11-11T06:08:53","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=73012"},"modified":"2014-11-11T08:08:53","modified_gmt":"2014-11-11T06:08:53","slug":"alibaba-festival-drives-2-billion-in-sales","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/internet\/73012\/alibaba-festival-drives-2-billion-in-sales\/","title":{"rendered":"Alibaba festival drives $2 billion in sales"},"content":{"rendered":"

Alibaba Group Holding Ltd said about $2 billion worth of goods were sold on the e-commerce giant’s websites within the first hour and 12 seconds of its annual shopping festival.<\/p>\n

Alibaba did $3.1 billion in business in half a day during last year’s festival, equivalent to what it sold in the full day in 2012.<\/p>\n

Half of the $2 billion gross merchandise volume this year was sold within the first 18 minutes after the “11.11 Shopping Festival” opened, the company said.<\/p>\n

The sale, which the company claims is the world’s biggest 24-hour online sale, began in 2009 when 27 merchants on the company’s Tmall.com site offered deep discounts to boost sales during an otherwise weak period.<\/p>\n

This year’s festival is global, reaching shoppers in more than 200 countries, the company said.<\/p>\n

More on Alibaba<\/h3>\n

Yahoo troubles offset by Alibaba<\/a><\/strong><\/p>\n

Alibaba\u2019s growth is slowing<\/a><\/strong><\/p>\n

Alibaba takes on Amazon, eBay in the US<\/a><\/strong><\/p>\n

Alibaba preps for its big IPO pay-day<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Alibaba Group Holding Ltd said about $2 billion worth of goods were sold on the e-commerce giant’s websites within the first hour and 12 seconds of its annual shopping festival.<\/p>\n","protected":false},"author":7,"featured_media":54400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9882],"tags":[25,1531,4241],"class_list":["post-73012","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-internet","tag-active","tag-alibaba","tag-sale"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/73012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=73012"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/73012\/revisions"}],"predecessor-version":[{"id":73022,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/73012\/revisions\/73022"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/54400"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=73012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=73012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=73012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}