Jack Ma's Alibaba Makes Record-Breaking $25 Billion in Singles' Day Sales


Continuing to dwarf US sales holidays, as well as Amazon's Prime Day, Alibaba's Singles Day on Saturday pulled in a record 168.2 billion yuan ($25.3 billion) in gross merchandise value (GMV) settled through the Alipay platform, up 39% from 120.7 billion yuan ($17.8 billion) in 2016.

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Alibaba recorded an eye-popping $25.3 billion in sales during its one day 11.11 Global Shopping Festival and brands such as Mondelez, Mattel, Gap, Gerber and L'Oreal were part of the action.

Singles Day has also morphed into "retail-tainment", with stars including Nicole Kidman and Pharrell Williams joining Alibaba chairman Jack Ma in a lavishly produced kickoff extravaganza.

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.

Ninety percent of transactions took place via the company's Alipay payment solution, up from 82 percent previous year. At one point, the company was processing 325,000 orders a second. "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".

According to the graphic, Singles Day, an annual shopping holiday in China created by Alibaba, drives $17.49 billion in sales, dwarfing Cyber Monday and Black Friday in the US.

Alibaba once again broke a record on Singles' Day, reaching a 22 billion euro turnover.

PChome invited singers, such as South Korea's Hyeon-a and Taiwan's Show Luo (羅志祥), for a three-hour Singles' Day event from 9pm to midnight Friday night and broadcast the show on its Web site and its social network accounts.

Fu Wenyue, a 23-year-old dresser in Shanghai, said offers this year were smaller but more "personalized" as brands used big data to hone their targets. More than three-quarters of a billion people visited Alibaba platforms and had access to more than 60,000 global brands and over a million individual retailers. Alibaba has said Cainiao expects 3 million people to handle packages during the 24-hour-period.