New Delhi: The sales figures of Singles’ Day reached 91.2 billion yuan ($13 billion) during the first hour, which is a 32 per cent increase when compared to last year’s 69 billion yuan, stated Alibaba Group on Monday, according to a report.
It must be noted that this world’s biggest online sales event – Singles’ Day – is a shopping fest promoted by Alibaba Chairman and CEO Daniel Zhang since 2009. The sales event is also known by the name ‘Double Eleven’ with regards to the calendar date 11/11.
Celebrities like Taylor Swift and Jackson Yee participated in the 24-hour shopping fest of the $486 billion Chinese retail juggernaut. According to Alibaba, the sales of Singles’ Day reached the $1 billion mark within one minute and eight seconds. As the sales picked up very swiftly on Monday morning, the shopping fest Singles’ Day became trending on Weiba, a Chinese Twitter-like platform.
Roughly over 500 million users are expected to participate in this year’s shopping spree, a report mentioned Alibaba as saying. This figure is about 100 million more when compared to the previous year’s number of customers. Besides JD.com, Alibaba’s Singles’ Day now faces competition from Pinduoduo, stated a report by Live Mint.