Alibaba’s Singles’ Day sales smash record with six hours to spare

Alibaba Group, the e-commerce giant behind the 24-hour Singles’ Day shopping blitz, has smashed last year’s record breaking sales total of US$14.3 billion, soaring past the total at 5.40pm on Friday, with more than six hours still on the clock.

Total spending on Alibaba platforms, which include Tmall, Taobao and AliExpress, is now well on the way to topping retail industry analysts’ target for this year of US$18.5 billion, which would be a 29 per cent rise on last year.
Launched in 2009, the day-long event held annually on November 11 is now considered a benchmark for China’s ongoing swing towards online shopping, especially via smartphones.

Transaction volumes on mobile devices had already surpassed last year’s number within the first 11 hours into the debut of the event, according to Tmall’s Sina Weibo social media platform.

This year’s selling surge kicked off at midnight in Shenzhen, with a star-studded launch gala event, featuring a host of celebrities, including English football legend David Beckham, basketball star Kobe Bryant, actress Scarlett Johansson, and pop-rock band One Republic to drum up international attention… see more

source: scmp

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