China's E commerce giant Alibaba broke its own record with the worth of transaction per day. Earlier last year it set a record for making transactions worth $9.3 billion, while this year that record was broken by Alibaba itself just within 12 hours.
This year it set a new record by making sales worth $13.8billion that is 91 thousand crore rupees, where 73% of the sale happened with in the first hour of its opening. It is estimated that as many as 1,20,000 transactions were made each minute. Alibab holds 80% share in China's E commerce revenue.
With china growing up to the top position in the Ecommerce market, Alibaba is all too confident that 5 years from now it would not only be China's big giant but world's biggest Ecommerce Market. It also has to be noted that though Alibaba started it's Ecommerce operations in india it didnot flare well with tough competition from Amazon, Flipkart and a la.