Singles' Day smashes online sales records
November 11, 2015 10:42 AM
Chinese consumers spent fast and spent a lot on Singles’ Day deals. As of midnight in China, sales through Alibaba hit $14.3 billion. Halfway through the 24-hour online sales bonanza in China, Alibaba Group Holding Ltd. had blown past last year’s total of 57.1 billion yuan ($9 billion) sold through its online channels Tmall and Taobao.
Top-selling items included baby-related and nutritional products, Nike sneakers and Levi’s jeans, the company said. Alibaba founder and chairman Jack Ma raised the stakes with this year’s event, moving it to Beijing, bringing in more foreign brands and Hollywood celebrities Daniel Craig and Kevin Spacey to add glamour to the shopathon.
- 18 seconds into Singles’ Day, sales on Alibaba’s marketplaces reached 100 million yuan ($16 million), with 80% of orders placed from mobile devices.
- A little more than an hour in, Alibaba’s sales exceeded 30 billion yuan ($4.7 billion), according to the company.
- By 9:26 p.m. Beijing time, transactions totaled 81.3 billion yuan during the event also known as Double 11 (for the Nov. 11 date).
In 2014, Alibaba generated $9.3 billion in online sales on the same date. To put that in perspective, U.S. shoppers bought $2 billion worth of goods online last Cyber Monday, the Monday after Thanksgiving that was the biggest U.S. online shopping day in 2014.
Here's what consumers and e-commerce experts are saying about Singles' Day:
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