In One Hour, Alibaba's Singles Day Sales Exceed $10 Billion

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Adding in Amazon Prime Day sales in 2016, estimated to be around $525 million in 2016 (and between $1 billion to $2.2 billion this year), the total spent during these USA shopping days total over $9.2 billion.

Sales from last year's Singles Day grossed $17.8 billion.

If you're not excited about Singles Day, we're here to tell you why you should be. Over the years it has transformed into a huge sales event with sites like AliBaba generating roughly $18 billion dollars in revenue in 2016.

Credit Aly Song/Reuters Photo Alibaba's Singles Day gala, held before the e-commerce giant's annual shopping extravaganza, drew performers like the singers Pharrell Williams and Karen Mok.

Alibaba launched "Singles Day" as the Chinese online answer to the late-November US "Black Friday" shopping rush, capitalising on the Chinese love of a good bargain and the growing national addiction to one-click smartphone payments.

The event has been adopted by Alibaba rivals such as JD.com, with merchants engaging in a cut-throat battle to slash prices and move goods.

In any case, Alibaba.com has risen to become the largest e-commerce platforms in the world.


"Using past growth figures, Hylink have predicted that Singles' Day is expected to generate over US$21 billion in sales this year".

Five minutes after midnight, Alipay was processing 256,000 payment transactions per second, doubling last year's high-water mark, Alibaba said.

The day's transaction volumes are pumped up by many Chinese delaying purchases of mundane items like rice and toilet paper to take advantage of cut-rate prices.

Alibaba managed to expand Singles Day from a local Chinese sales event to a global sales day.

"China wants to evolve from an export and investment driven economy to a consumption driven economy", said Joseph C.Tsai, Executive Vice Chairman of the Alibaba Group.

"This year, a series of live entertainment events including Tmall's See Now Buy Now Fashion Show along with other live streaming and interactive activities will bring together millions of people around the world to jointly celebrate a global shopping festival of the year".

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