Alibaba will provide a 10% cashback for individuals shopping at Alibaba with M-Pesa on November 11. The discount is part of the commemoration of Singles Day, China’s largest shopping day.
The offer speaks of the integration of platforms and cultures after M-Pesa partnered with Alibaba Group in March. The Singles day offer will help M-Pesa gain from Alibaba sales for the day.
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The e-commerce Day is a great success for Alibaba, with the giant firm selling up to $23 billion in the first nine hours. Additionally, sales hit the $ 1 billion mark in the first 1 minute 8 seconds. This represents a bigger success as compared to other big shopping days like Black Friday and Cyber Monday.
Last year, Alibaba netted sales worth $30 billion on its platforms on Singles’ Day compared to $7.9 billion U.S. online sales for Cyber Monday. Sales for the day expect to grow with overall e-commerce growth in China and the world.
This year, the Day expects as many as 500 million customers up from last year’s 400 million people.
