Alibaba reveals record $30.8bn Singles Day sales total

Chinese online powerhouse Alibaba Group has reported a record RMB213.5 billion (US$30.8 billion) of gross merchandise volume (GMV) for its Singles Day (11 November), representing a leap of 27% on the same promotional day last year.

Putting Black Friday somewhat in the shade in terms of single-day revenue generators, Singles Day saw Alibaba Group hit a record $1 billion in sales in just 85 seconds, while the first hour generated close to $10 billion. Data suggests Black Friday 2017 generated around $5 billion in total for the full day.

This year’s Singles Day also resulted in 237 brands exceeding RMB100 million in GMV, including companies such as Apple, Dyson, Kindle, Estée Lauder, L’Oréal, Nestlé, Gap, Nike and Adidas.

GMV for what is officially known as Alibaba’s 11.11 Global Shopping Festival is the total value of orders settled through Alipay on Alibaba's China retail marketplaces, Lazada and AliExpress within a 24-hour period.

Daniel Zhang, CEO of Alibaba group, who will take over as chairman of the business when founder Jack Ma steps down from the role next year, said: “Today we witnessed the strength and rise of China’s consumption economy and consumers’ continued pursuit to upgrade their everyday lifestyles.

“Participation from the entire Alibaba ecosystem enabled our brand and merchant partners to engage with consumers like never before.”

Other key statistics from the day included the fact logistics provider Cainiao Network processed more than one billion delivery orders, as more than 180,000 brands participated in the sales event.

Over 40% of consumers made purchases from international brands during the course of the day, while top countries selling to China were Japan, the US, South Korea, Australia and Germany.

Alibaba-owned online marketplace Lazada participated in 11.11 too, bringing the shopping event to consumers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam.