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‘Singles Day’ Sales surge to new high - China

| International retailers

Chinese shoppers splurged more than $14bn during the so-called ‘Singles Day’ sales on Alibaba, confirming it as the world’s largest online shopping event.

Total sales on the Chinese e-commerce giant’s various sites amounted to 91.2bn yuan ($14.3bn), a stunning 60% jump from last year. Alibaba said the numbers were preliminary estimates, adding that 68% of the transactions were made via mobile devices.

The event also saw rivals such as JD.com benefit, with the latter completing more than 20 million transactions during the day. 

Alibaba introduced the concept in 2009 as an ‘anti-Valentine’s Day’, with 11/11 symbolising singles. The event has been supported this year by the Chinese government, which has been trying to shift the country’s economy into a consumption-led model.

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