Alibaba shows the Slowest Growth in Singles’ Day Sales

Alibaba recorded $84.54 billion in orders during Singles’ Day Sales. The records show a jump in shopping, but also the growth rate is lowest ever since the event started in 2009. The event was able to sell off the products worth 498.2 Chinese Yuan during the event, last year. 

The slowest growth rate can be an outcome of the economic crises that China is facing right now. The official blog of Alibaba has explained that the focus of the event this year was on Social Responsibility, and Sustainability highlighting eco-friendly products and charity initiatives.

Alibaba's Chief Marketing Officer, Chris Tung, shared with a post that in the early stages, the focus was on growth, and as of now, they are paying attention to their social responsibility.