Alibaba's Singles Day breaks sales record with mobile shoppers

by Harriet Bell November 14, 2017, 0:39
Alibaba's Singles Day breaks sales record with mobile shoppers

"This is just the beginning and we will continue to innovate and introduce new ways to engage consumers and make shopping more fun and entertaining", said Mr Bittner. On Saturday, at midnight, an estimate of 168.3 billion yuan was registered on the live sales ticker used by Alibaba which was already 39% more from the 120.7 billion yuan that was made a year ago.

Alibaba Group Holding Ltd.'s Singles' Day generated a record 168.2 billion yuan ($25.3 billion) in sales, as the e-commerce giant worked with more traditional retailers to market discounted lobster, iPhones and refrigerators to shoppers from at least 225 countries and regions. The e-Commerce giant sold $25.3 billion in merchandise through its marketplaces on November 11, a 39% increase over the previous year.

Potential buyers join in from all over China to attend the Singles Day Shopping Festival and they very eagerly load their online carts, trying to figure out the best possible deals as robot and delivery men do their best to deliver approximately 1.5 billion products for the following six days.

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All told, there was approximately 186.9 yuan or $28.1 billion in GMV for this year's Singles Day, as about 90% of GMV ran through Alipay in 2017, up from 82% in 2016. "The company enabled some 600,000 mom-and-pop convenience stores and 30,000 rural retail centers in China to participate in the shopping event for the first time this year through its "LST" or "retail integrated" technology".

It was at midnight that a deluge of pre-orders started trickling in and in just the first two minutes they were able to drive a billion dollars of sales on Alibaba's platforms.

To pump merchandise, the Chinese company also hosted a star-studded gala with film star Nicole Kidman and American rapper Pharrell Williams. "On Singles' Day, shopping is a sport, it's entertainment".

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Alibaba has been celebrating the occasion since 2009 by giving incredible and steep discounts to a wide variety of products sold on its platform, Tmall. China has 731 million internet users, up 6 per cent from 2016, according to government statistics.

So over the weekend, the ninth version of this co-opted observance took place, and Alibaba says more than a million retailers around the world took part.

And on this day i.e. 24 hours Alibaba handled a transaction of 1.48 billion.

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