Costco ‘shocked’ by one-day sales of $3.5M on Alibaba’s TMall site
Costco will expand more heavily into China after it sold $3.5 million worth of goods over a 24-hour period with the help of Alibaba.
In October, the Seattle-area retail giant announced it was partnering with Alibaba to enter the China market for the first time. In doing so, Costco planned to sell some of its merchandise, including some of the Kirkland brand products, to consumers visiting the Tmall e-commerce platform.
As part of an Alibaba announcement today regarding Tmall Global’s performance, Costco said it sold $3.5 million worth of merchandise on Singles Day, which is China’s equivalent Cyber Monday.