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Alibaba's Singles' Day sales surge 60 percent to $14.3 billion

 

 

Alibaba Group Holding Ltd's total value of goods transacted during its Singles' Day shopping festival November 11, 2015, was 91.2 billion yuan ($14.32 billion), the Chinese e-commerce giant announced in Beijing.

The results are preliminary and un-audited, Alibaba spokes person said. Of the total value of transactions, 68 percent was through orders from mobile devices.

Total gross merchandise volume, a measure of sales, matched last year’s the 2014 Singles’ Day figure of $9.3bn just after midday, the Chinese e-commerce giant Alibaba said. “The 2015 sale has eclipsed last year’s final results in a little over half the time,” it said.

Earlier, Alibaba’s chief executive, Daniel Zhang, said “the whole world will witness the power of Chinese consumption” on Singles’ Day on Wednesday. 11 November is not a traditional Chinese festival but Alibaba has been pushing it since 2009, first marketing it as an “anti-Valentine’s Day”/ Single’s Day – 11/11 being a date heavy on ones – with hefty discounts to lure the country’s singletons and price-sensitive buyers.

 

 

Alibaba said its logistical division and its partners would use more than 1.7 million personnel, 400,000 vehicles, 5,000 warehouses and 200 planes to handle deliveries.

With sales hitting new highs year after year, Singles’ Day has become a lucrative business opportunity embraced by all online retailers in China, with competition between them turning increasingly fierce. China’s online population of 668 million and is the world’s biggest, it it growing year after year.

And company CEO says the coming year’s growth rate should be over 50 percent.


Fur Industry News - World Wide
RB Media Group / EFURMEDIA

Posted: November 13, 2015