Alibaba sales surge to $5 billion in 15 minutes on Singles Day


Singles' Day now marks the start of a 24-day shopping festival. For which we can thank Chinese e-commerce giant Alibaba. For Alibaba specifically, it expects more than 60,000 worldwide brands to be available across its marketplaces, including Adidas, Nike, Zara and Uniqlo.

Mobile transactions account for 93 per cent of transactions so far this year, a further lift from the whole-day average of 85 per cent in 2016.

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In two minutes of sales time, Alibaba's gross merchandise volume totaled $1 billion.

Singles Day is a holiday in China, in which unmarried men and women celebrate their single lifestyle. Last year, Alibaba saw $17.8 billion in sales during the day-long event, far surpassing the $12.8 billion Americans spent in the four days after Thanksgiving.

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The world's biggest online shopping day is under way and - in just one hour - its founder Alibaba Group Holding Ltd. has raked in $8.6 billion in sales. "It's the opportunity for merchants and consumers to have fun and engage in something that's really exciting".

Some websites are also trying to provide shopping tips to global consumers on what products are good to buy during the shopping festival in China.

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