The numbers are in and Alibaba’s 11.11 Singles Day has set another record. The annual shopping festival got off to a strong start, with sales hitting $1 billion in just one minute and 25 seconds. Just an hour in, sales exceeded $10 billion, a number reached five minutes and 21 seconds faster than last year.
When it was all said and done, the total for this year was a staggering $30.8 Billion. That number topped the $25.3 billion record set in 2017 and shows a nearly 27 percent year-on-year rise. This is a huge number, of course, but smaller than the 39 percent year-on-year growth recorded in 2017.
Over 500 million consumers took part. In the first hour of this year’s Singles’ Day, the top countries selling to China were Japan, the U.S., and South Korea, and the most popular items purchased overseas were dresses, wool coats, pants, and hoodies. The biggest brands this year were Xiaomi, Apple and Dyson. Big-ticket items such as TVs and refrigerators were less in demand this year, but cosmetics proved to be more popular. The company also set a new record for over 1 billion packages to be delivered.
The top 10 countries/regions selling to China by GMV: 1. Japan 2. The United States 3. Korea 4. Australia 5. Germany 6. United Kingdom 7. France 8. Spain 9. New Zealand 10. Italy
The Chinese giant put a big focus this year on a strategy it calls “new retail,” which aims to bring together the online parts of its business with the offline.
“Alibaba is making use of all of its platforms to make Singles’ Day a holiday that also includes dining and entertainment,” Jet Jing, president of Tmall, one of the company’s main sites, said at the Singles’ Day event. “We’re connecting online shopping with offline physical outlets.”
Nielsen’s latest research shows that consumers have great enthusiasm for the 11.11 shopping festival, with 94% of online consumers in China have participated in online shopping sprees. 18-35-year-old consumers were the main purchasing force, and the most likely to make impulse purchase decisions, with 56% of online consumers born in the 1980s and 58% born in the 1990s saying they have “made unplanned purchases.”
Nielsen research shows that 81% of online consumers in China are interested in buying imported goods on 11.11. With increasing consumer demand, imported products have ushered in an unprecedented development opportunity in China.