Date
17 December 2017
Alibaba Chairman Jack Ma stands in front of a giant electronic screen showing real-time sales figures during the Singles’ Day online shopping festival on Nov. 11. Photo: Reuters
Alibaba Chairman Jack Ma stands in front of a giant electronic screen showing real-time sales figures during the Singles’ Day online shopping festival on Nov. 11. Photo: Reuters

Alibaba Singles Day sales hit new record at over US$9 bln

E-commerce giant Alibaba, which operates China’s top online marketplace Tmall, has set a new one-day sales record by reaping more than 57 billion yuan (US$9.3 billion) worth of transactions during the November 11 “Singles Day” shopping carnival.

With a record number of participating merchants in the Double 11 promotion this year, Tmall saw its sales exceed 1 billion yuan (US$163.07 million) in the first three minutes after the sale started at midnight Tuesday, compared to more than six minutes that it took last year to record a similar amount, Singtao Daily noted, citing real-time figures posted at Alibaba’s headquarters in Hangzhou.

Sales reached 10 billion yuan in 38 minutes and 28 seconds after midnight, and further climbed to 36.2 billion yuan as of 1:31 pm, breaking the previous record set on the same day last year.

As of 11:25 pm, sales reached a new landmark of 57.1 billion yuan.

Twelve merchants on Tmall saw their sales exceed 100 million yuan while 42 reaped more than 50 million yuan in sales, according to the report. The firms were mostly involved in the sale of mobile phones, clothes, furniture and home appliances.

Alibaba chairman Jack Ma said late Tuesday that taking orders was easy but the hard part is shipment work that will follow over the next few days. He said he hopes that all small businesses and consumers around the world will make transactions online in the future.

What is worth noting in this year’s Singles Day sales campaign was a surge of transactions through mobile phones. Last year, there were 35.9 million transactions through mobile phones on Nov. 11, accounting for 21 percent of the total. But this year, orders through mobile devices took a ratio of 50 percent in just ten minutes after the sale began.

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