Kenya-based users of Chinese e-commerce giant Alibaba will receive 10% off their purchase if they pay with M-Pesa on Singles’ Day.
This offer will stand as of November 11 as part of Singles’ Day, China’s largest shopping day. It is comparable to Black Friday and Cyber Monday in other parts of the world.
M-Pesa partnered with the Alibaba Group earlier this year, in March.
The move is aimed at boosting M-Pesa’s earnings through Alibaba sales during Singles’ day.
Alibaba has historically sold upto USD 23 Billion in product withing the first nine hours during a past Singles’ Day.
To emphasize this point, sales had already hit USD 1 Billion within the first minute of opening.
These are astounding numbers compared to similar shopping days.
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In 2018, Alibaba’s net gains from Singles’ Day sales was USD 30 Billion vis a vis the USD 7.9 Billion Cyber Monday sales.
Alibaba anticipates to make even more in 2019, attributing this to the growth of e-commerce in China and other parts of the world.
Chinese e-commerce companies, Alibaba among them, expect to share as many as 500 million customers up from last year’s 400 million people.
