Singles' day.

[JamesW]

Happy singles' day to all of our Chinese friends.

 

[pooldv]

Thanks!

 

[JamesW]

Alibaba sold over $1 billion of merchandise per hour on that day.

 

[pooldv]

Wow!

 

[JoyfulNoise]

1.48B transactions in 24 hours with payment processing speeds as high 256,000 payments/sec ....

Then again, it is a festival celebrating “being alone” .... so what do expect some poor lonely schlep with a lot of excess spending capital to do over there ....

 

[JamesW]

$25 billion in 24 hours.

 

[JoyfulNoise]

$25 billion in 24 hours.

Corrected it. 1.48 billion transactions in 24 hours, not dollars.

 

[JamesW]

That's about 1 transaction per person

Seems unlikely to me.

 

[JoyfulNoise]

That's about 1 transaction per person

Seems unlikely to me.

https://en.wikipedia.org/wiki/Singles'_Day?wprov=sfti1

During the festival, Alibaba set a world record for payment transactions, with its mobile wallet app Alipay processing 256,000 payment transactions per second, in 2017. A total of 1.48 billion transactions were processed by Alipay in the entire 24 hours, with delivery orders through Cainiao (Alibaba's logistics affiliate) reaching close to 700 million, breaking 2016's record.[8]

The reference is to an RT news article and, as we all know, RT is #FAKENEWS

 

[JamesW]

I suppose that it's possible but the reports probably all rely on what alibaba claims the sales are.

Alibaba Numbers Could Be Fake, Bronte Capital Hedge Fund Manager Says | Fortune

 

[JamesW]

Tomorrow is the big day. Lots of good deals on Chinese merchandise.

单身快乐的一天。