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Alibaba rakes in $25bn on Singles’ Day

11.11 singles day 2017

Alibaba has posted record sales for its latest Singles’ Day event, after shoppers spent $25.3bn (£19.4bn) on 11 November.

The 24-hour retail event, led by Alibaba’s Tmall platform, saw sales increase by 39% compared with the previous year.

Uniqlo was among one of the bestselling brands for womenswear and menswear, ranking first and second respectively in these categories.

Other top-performing brands included Bestseller’s Vero Moda in womenswear and Jack & Jones in menswear.

Lifestyle brand Camel and Skechers topped the rankings for footwear, while Nike, Adidas, Chinese brand Anta and New Balance dominated activewear sales.

More than 140,000 brands and merchants took part this year. Alibaba also tested 60 physical retail pop-ups across China, which included virtual reality fitting rooms.

Mobile sales rose to account for 90% of total gross merchandise volume, compared with 82% last year.

Alibaba group chief executive Daniel Zhang said: “It represents the aspiration for quality consumption of the Chinese consumer, and it reflects how merchants and consumers alike have now fully embraced the integration of online and offline retail.”

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