The company is the owner of the Singles Day brand, though other retailers also have major sales, like Black Friday, all in the name of single people buying gifts for themselves.
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This year, Single’s Day sales were just past $14.5 billion? which is 54% more than sales last year, according to the data analytics firm comscore.
The world’s biggest online shopping holiday, “Singles’ Day” just kicked off in China-and the numbers are already massive.
Last year, Alibaba hosted $9.3bn worth of transactions on its online stores, after consumers spent $2bn in the first hour alone.
Alibaba CEO Jack Ma hopes to spread China’s online shopping fever to the rest of the world.
Alibaba Group announced that $10 billion of GMV was settled through Alipay on Alibaba’s China and worldwide retail marketplaces as of 2:05 p.m. China Time during the 2015 11.11 Global Shopping Festival. It began in 2009, in retaliation to Valentine’s Day, as clearly depicted from the name “Singles Day”. This year, the company is expecting more than 40,000 merchants and 30,000 brands from 25 countries worldwide.
In order to increase the spectacle of the day this year, Alibaba is moving its results ceremony, where it calculates how many sales were generated, from its headquarters in Hangzhou to Beijing, the nation’s capital.
Alibaba plans to bring goods from US small and midsize businesses to consumers in Asia, where there is demand for unique and high-quality products, Ma said as the company was wrapping up its Singles’ Day shopping promotion.
It’s not clear exactly how to compare JD’s Singles Day to Alibaba’s.
By midday, that amount had crossed US$9 billion, equalling Alibaba’s take for the whole day a year ago.
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The total sales this year, which were posted by the e-commerce behemoth early Thursday morning, showed a 60 percent improvement from the company’s performance in 2014.
