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

10 November 2017

We all know about Black Friday and Cyber Monday as they are the biggest shopping days in the USA, but China has an even bigger shopping day that was designed by Alibaba Group Holding Ltd (NYSE:BABA).

Singles Day takes place every year on 11 November and it's a Chinese festival for young people to celebrate when they are single.

The peak number of transactions per second so far this year reached 325,000. Also, 60,000 of them are global brands, giving the shopping binge led by a Chinese company more of an worldwide flavour.

The shopping day raked in an impressive $17.8 billion, and this year has some wild offers including a lifetime supply of alcohol for $1,673.

The logistics arm of Alibaba is expecting to fulfill more than 1 billion orders from Singles Day, which is 50% more than fulfilled during last year's holiday, Squali said.

"Alibaba's Singles Day shopping event no doubt will hit another record in sales this year as the Chinese online giant has expanded it to a 24-day shopping and entertainment bonanza", Andria Cheng, an analyst with research firm eMarketer, said in a statement earlier this month. And a year ago, it took the Chinese e-commerce giant a full hour to reach $5 billion in transactions. Alibaba has not only transformed consumer behavior in China, but merchant behavior as well.

Alibaba Group is the publisher of The South China Morning Post.

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