Wednesday, 22 November, 2017

Alibaba's Singles' Day Goes Global With Record $25 Billion in Sales

Basically everyone's phone on Saturday Basically everyone's phone
Mae Harvey | 14 November, 2017, 00:36

Surprisingly, Singles' Day 2017 even surpasses the sales for Black Friday and Cyber Monday in the United States combined by almost four times.

Audio will be available later today.

Alibaba's Global Shopping Festival on Singles' Day also demonstrates the company considers a merger between offline and online is the future of retail.

TV and online retailer Momo.com Inc (富邦媒) said revenue skyrocketed 150 percent year-on-year to NT$740 million (US$24.51 million) on Singles' Day, also known as "Double 11" for the November 11 date, from NT$300 million on the same day last year.

And now, the "Singles Day" is the largest e-commerce festival in the world. Mobile transactions made up 90% of sales during the day-long event, with as much as 97% of orders coming from mobile devices in the first minute, Yahoo!

Ninety percent of transactions took place via the company's Alipay payment solution, up from 82 percent past year. At its peak, the company's processors handled 256,000 transactions per second.

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But like Amazon in the U.S., Alibaba has a strategy to integrate online shopping with brick-and-mortar stores, which still make up 85% of total retail sales, according to the company.

Alibaba Group, during its flagship event Double 11 (also called 11.11 Sale), surpassed its last year's "Single's Day" sales of 18 billion dollars, cashing in circa 25.3 billion dollars on Saturday. Sales achieved at Amazon's last Prime Day, held in July this year and which actually lasted for 30 hours, were one billion U.S. dollars.

The e-commerce company saw sales rise 40% this year, an increase of $7.5bn on 2016.

PChome invited singers, such as South Korea's Hyeon-a and Taiwan's Show Luo (羅志祥), for a three-hour Singles' Day event from 9pm to midnight Friday night and broadcast the show on its Web site and its social network accounts. China has 731 million internet users, up 6 per cent from 2016, according to government statistics.

Fu Wenyue, a 23-year-old dresser in Shanghai, said offers this year were smaller but more "personalized" as brands used big data to hone their targets. That total was reached in just 13 hours this year. In total, almost 1.5 billion transactions were registered and about 800 million packages will arrive at the customers' doorstep in the next few days and weeks.

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