What is Singles’ Day?
Chinese Singles’ Day is a festival celebrated mainly among young Mainland Chinese people to celebrate the fact that they are proud of being single. The date, November 11th (11/11), is chosen because the number “1” resembles an individual that is alone.
This festival has also become the largest offline and online shopping day in the world. Alibaba’s sites Tmall and Taobao smashed its Singles’ Day record once again as sales crossed $25 billion. This years 11/11 came out of the gates quickly, with around $7 billion of goods sold in just the first 30 minutes of the day. Alibaba went on to surpass last year’s $18 billion total after only twelve hours of sales.
That number represents an impressive 39 percent increase over year’s sales total $17.79 billion.
Mobile was Huge
This year, Alibaba said 90 percent of sales were made on mobile which is up on 82 percent for 2016 and 69 percent in 2015.
Alibaba also set a world record for payment transactions, with mobile wallet app Alipay processing 256,000 payment transactions per second. A total of 1.48 billion transactions were processed by Alipay in the entire 24 hours, with delivery orders through Cainiao (Alibaba’s logistics affiliate) reaching almost 700 million, breaking 2016’s record.
- Total orders were 812 million, a 23 percent increase from 2016
- The cloud stood firm: Alibaba Cloud managed 325,000 orders at peak
- Over 140,000 brands — including 60,000 international — offered 15 million product listings on Tmall
- 167 merchants generated over $15.1 million in sales each
- 17 merchants surpassed 500 million $75.4 million each
- Six merchants surpassed $150.9 million each
For comparison, Alibaba’s Singles’ Day puts America’s largest shopping days to shame. In 2016, retailers pulled in $3 billion on Black Friday and then $3.45 billion on Cyber Monday, both of which were records.