Alibaba
Alibaba break own Singles’ Day sales record

Alibaba has hit record sales for China Singles’ Day of $25.4bn (£19.2bn), surpassing last year’s high within just 13 hours. Some $1bn (£758m) alone was spent in the first two minutes after midnight on 11 November, with customers spending 40% more on Alibaba than last year.

Held annually on 11 November, Singles’ Day is now the world’s largest online shopping event, exceeding the combined sales for Black Friday and Cyber Monday in the US. More than 1.5 billion parcels are expected to be delivered over the next six days to hundreds of millions of Chinese shoppers who took advantage of the discount online shopping event.

To publicise the count down to Singles’ Day Alibaba flew celebrities including Nicole Kidman, Pharrell Williams and Maria Sharapova to Shanghai to perform on stage at a televised gala.

Going forward it is expected that retailers outside China will ramp up their efforts to tap into this shopping event, as data from PCA Predict shows that 27% of purchases made on Single’s Day 2016 in China were from international brands.

READ MORE: Alibaba: Sales during online retail bonanza Singles’ Day hit new record as they smash $25bn mark

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