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Alibaba Registers $38.4 Billion During Its Singles’ Day Sales

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Alibaba Registers $38.4 Billion During Its Singles' Day Sales
Photo: GettyImages

A record-breaker As It Nets $1 Billion In Just 68 Seconds.

Alibaba, the number one Chinese online market registered a whopping sum of $38.4 Billion during its ‘Singles’ Day’ sales today. An amount equivalent to ¥268.4 billion in the native Renminbi currency of China. And displacing its previous record of $30.7 billion haul from last year, which was the highest sales to be recorded on any e-commerce platform prior to now. Hitting a $1 billion mark a little after the first minute. It went on to report over $12 billion in sales within the hour, which surmounted to $22 billion by the next 8 hours.

Tagged ‘Double 11’ due to its November 11th (11/11) date, this event turns out to be the world’s biggest online shopping event in recent times. The ‘Singles’ Day’ kickstarted with a 24-hour shopping blitz headlined by renowned pop-star – Taylor Swift on Sunday night at Shanghai stadium. This year’s countdown also featured a Livestream on Tmall by Kim Kardashian for her fragrance line as well as local celebrities such as Jackson Yee. Aside from the obvious, the fortuity of the ceremony also indicates continuous progress for Alibaba as it marks the first Singles’ Day without its former boss and Founder – Jack Ma.

Earlier today, the online shopping retail store reported tremendous patronage like never seen before. Enjoying more than half a billion visitors from all over the world with well over 200,000 participating brands. Although introduced by Alibaba in 2009, the event also included other Chinese e-commerce companies. Alibaba, therefore, established an online trading consortium that jointly agrees to offer a tremendous discount to the Chinese crowd over the 24-hour period. Subsequently gaining more traction outside of China, including Singles Day discounts by Alibaba’s subsidiary – Lazada in Singapore, Malaysia, Indonesia, Thailand, and Vietnam. And even in the far west, such as NIKE and Brooks Brothers in the US.

Photo: Forbes

Although a similar event has been hosted in the US, such as the five-day span ‘Black Friday’, ‘Cyber Monday’ and ‘Prime Day’. The Single’s Day festival is far more lauded than its American counterparts, hence the involvement of a handful of American brands in the event. Yet, following a survey by AlixPartners, 80% of the Chinese shoppers precluded plans to boycott the 400 US retailers looking to run promotions for Singles Day. Regarded as the Chinese’s informal shopping holiday. And according to Forbes, the outcome of the one-day event last year, eclipses that of the US celebrated Thanksgiving, Black Friday, Cyber Monday and Amazon’s Prime Day – combined.

Another data analytics platform – Adobe Analytics, forecasts a colossal increase in the US shopping events this year aggregating $143.7 billion. Further proposing that Cyber Monday might amount to $9.4 billion in total sales while Thanksgiving could generate an estimated $29 billion this year.

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Samsung Raises the Game with The New Galaxy Note 20 to Rival iPhone 12 and Pixel 5

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Samsung Raises the Game with The New Galaxy Note 20 to Rival iPhone 12 and Pixel 5

While other notable phone manufacturers are trimming prices amidst the pandemic, Samsung seems to be raising the bar even higher. In February alone, the Korean electronics company debuted three high-flying flagship phones each of which fell within the price range of $999 to $1,399. This is actually quite unexpected since other major competitors in the tech industry are cutting down prices on gadgets; such as Apple’s 5G iPhone 12 possibly maintaining the same price tag of $849 as its 4G predecessor – iPhone 11

In the same light, Google is deemed to be producing its latest version of the Pixel flagship – Pixel 5, with even cheaper processors to effect a price reduction lower than $700. Microsoft on the other hand is expected to slash a whopping 25% off of the Surface Earbuds, same as Apple’s AirPods prices and Pixel 4 getting a $50 price reduction. Evidently, these are only a handful of the ripple effects that the COVID-19 outbreak brings to the tech space, subsequently, the global economy.

In spite of the economic downturn that has forced most tech companies to rethink their launch price – and possibly postpone the launch dates, Samsung seems to be taking even bolder steps. How the Asian gadget-making company is responding to the current market slide is actually mind-boggling. Considering that the company is set to launch its Galaxy Note 20 Ultra and Galaxy Note 20 Plus at a very exorbitant price compared to what other competitors in the market are selling for. 

This is hardly surprising since Samsung has taken greater steps to upscale, which is evident in the new features present in the Galaxy Note 20 series – such as a backplane LTPO OLED display tech and the rumored 4300mAh battery size, while others are running short on manufacturing supplies and production deliveries. Based on historical data and given the current situation, we should expect the Samsung Galaxy Note 20 series to be priced well above $1000. However, the big question here is; will consumers be willing to part ways with such amount of cash for a phone that promises an extensive battery life in juxtaposition to much cheaper rivals, with less durable battery life?

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Elon Musk’s SpaceX Project Successfully Debuts NASA’s Launch into Space

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Elon Musk’s SpaceX Project Successfully Debuts NASA’s Launch into Space
Photo Credit: SpaceX

SpaceX– Elon Musk’s aerospace company, just launched two NASA astronauts into space. SpaceX is a privately owned American aeronautic manufacturing and space exploration technologies corporation, founded sometime in 2002 with the primary intention of revolutionizing space technology and promoting the emigration to mars through reduced space transportation cost. SpaceX group, an enterprise spearheaded by one of the most innovative minds of our times, has introduced a new age of human spaceflight in the United States. The project codenamed ‘Crew Dragon Mission’ was the second attempt by the company to launch spacemen into the orbit, over the last two decades – as the first attempt from three days ago was canceled a few minutes before take-off due to stormy weather.

This most recent development is part of NASA’s Artemis program. It comes as a relish to NASA and SpaceX since the automated spacecraft manufacturer was sanctioned by NASA barely two weeks ago to develop a lunar optimized Starship that would transport its crew between the lunar orbit and the surface of the moon. The two astronauts involved in this record-breaking venture are; Bob Behnken and Doug Hurley – both of whom are NASA veteran space travelers.

NASA astronauts Doug and Bob lifted off circa 15:22 UTC on Saturday, 30 May 2020, from Kennedy Space Center on Merritt Island, Florida – which happens to be the same launch pad used to send the Apollo astronauts to the moon fifty years ago. Notably, the launch of the SpaceX aero flights – Falcon 9 rocket and Dragon crew capsule, from Florida’s Kennedy Space Center to the International Space Station (ISS) marks the first time in 9 years since a spacecraft has been launched from American soil and also the first time a private company has done it.

The NASA astronauts have successfully arrived at the International Space Station. In attendance to witness the event in Florida was President Donald Trump, Vice President Mike Pence, and the SLOTUS – Karen Pence of the United States of America.

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