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Bien Perez

Mainland e-commerce giant Alibaba continued on its record-setting way yesterday, setting a new global high for one-day online sales on "Double 11", the world's biggest online shopping festival on what's known in China as "Singles Day".
Hangzhou-based Alibaba saw its online sales for the day reach 57.1 billion yuan (HK$72 billion) by midnight, with about 43 per cent being mobile transactions.
Founder and chairman Jack Ma Yun had forecast 50 billion yuan for the whole day, 38 per cent more than the 36.2 billion yuan in online sales Alibaba recorded on November 11 last year.
Alibaba set a record for the world's biggest initial public offering with its US$25 billion listing in New York in September.
It conducted the first 24-hour online sales promotion on the mainland in 2009 and it has since become an annual event.

In its first hour of Double 11 sales, the value of online transactions settled via its Alipay payment platform reached 12.2 billion yuan, with 46 per cent of sales done using mobile devices.
Lu Zhenwang, founder of Shanghai Wanqing Commerce Consulting, said this year's event marked a new milestone for mobile e-commerce sales on the mainland, which is the world's largest smartphone market.
"The further development of e-commerce in China will increasingly be driven by the rapid growth of smartphone users here," Lu said.
"Singles Day" sprang from Nanjing University, where students held the first 11/11 parties in the early 1990s. Young people treat it as a day to celebrate being single and a chance to find a prospective partner.
The number of mobile online shoppers on the mainland reached 205 million at the end of June, with the number of users accessing the internet on smartphones and media tablets totalling 527 million, according to data from the government-run China Internet Network Information Centre.
Alicia Yap, the head of internet research at bank Barclays, said in a report that Alibaba's efforts to boost mobile transactions on Double 11 promotions this year involved domestic operations Tmall mobile, Taobao mobile, Alipay Wallet, Taodiandian and harnessing the capabilities of a number of other platforms in which Alibaba has investments. These include UCweb, Youku Tudou, Sina Weibo and Hong Kong-listed Intime Retail.
Alibaba said its mobile sales also had support from online-to-offline promotions with nearly 320 department stores in 33 mainland cities, Yap noted.
The record sales for Alibaba this year have also been helped by its decision to include, for the first time, overseas merchants and consumers from more 200 countries on its international shopping platforms, Tmall Global and AliExpress. Mainland shoppers were able to shop for imports from seven countries.
"Behind the scenes … are millions of merchants and … partners who worked with us to create this festival for consumers," Alibaba chief operating officer Daniel Zhang Yong said.
Alibaba estimated that more than 27,000 brands and 26,000 merchants participated in its Double 11 promotions this year.
Earlier this month, Alibaba reported quarterly revenue grew 53.7 per cent year on year to 16.83 billion yuan.


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Alibaba

Alibaba sets record one-day sales on back of mobile and global expansion

An employee at Alibaba headquarters in Hangzhou draws attention to the rising Double 11 sales. "Singles Day" is the mainland's busiest online shopping day. Photo: Xinhua

Global Times hails record-breaking online shopping festival as show of Chinese 'soft power'

A large screen in Alibaba's headquarter in Hangzhou keeps updating the latest sales volume of Tmall, an online marketplace of the e-commerce giant. Photo: Xinhua

Employees of a Tmall work overnight to serve customers online and deal with orders in Hangzhou. Photo: Reuters

Business

Companies

China Business

Singles Day online sales promotion earns new revenue record for e-commerce giant


Alibaba continued on its record-setting way, setting a new global high for one-day online sales on "Double 11", the world's biggest online shopping festival on what's known in China as "Singles Day".


Alibaba sets record one-day sales on back of mobile and global expansion

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Singles Day online sales promotion earns new revenue record for e-commerce giant

Singles Day online sales promotion earns new revenue record for e-commerce giant