Update | Alibaba Singles’ Day shopping frenzy exceeds US$16.8b to break record
Spending on Alibaba platforms, which include Tmall, Taobao and AliExpress, soared past last year’s record of US$14.3 billion by 5.40pm, and has hit US$17.8 billion, chalking up a 24 per cent growth
Alibaba Group Holding, the e-commerce giant behind the 24-hour Singles’ Day shopping blitz – the world’s biggest retail event surpassing Black Friday – smashed last year’s sales record of 91.2 billion yuan, soaring past the total at 3:19pm on Friday.
Spending on Alibaba platforms, including Tmall, Taobao and AliExpress, topped 120.7 billion yuan (US$17.8 billion), a 32 per cent rise on last year’s sales.
More than 82 per cent of the sales were conducted through mobile devices, with purchases using smartphones 99 billion yuan, according to Alibaba’s live data.
Launched in 2009, the day-long event held annually on November 11 is considered a benchmark for the country’s continuing swing towards online shopping, and is seen by economists as a bellwether of consumer demand.
This year’s selling spree kicked off at midnight in Shenzhen with a gala event featuring a host of celebrities, including English football legend David Beckham, basketball star Kobe Bryant, actress Scarlett Johansson and rock band One Republic, to drum up international attention.