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Singles' Day smashes sales records

2018 11.11 countdown gala 2

Chinese ecommerce giant Alibaba shattered its sales records during the Singles’ Day shopping event, with $1bn (£780m) worth of goods sold in under two minutes.

Some 180,000 brands participated in the Chinese shopping day, which took place on 11 November, with $10bn (£7.8bn) worth of goods sold in under two hours and a total of $30.8bn (£23.9bn) sold across the day in total.

The total number of sales was up 27% compared to Singles’ Day in 2017.

While the event is dominated by Chinese consumers, shoppers from 230 countries bought goods during the event, with Japan, the US, South Korea, Germany and Australia the top selling countries outside China.

Gap, Nike and Adidas were top selling clothing brands.

Meanwhile JD.com also had a record week of sales. Transaction volume at the retailer reached a record RMB 159.8 billion (£17.8bn) from 1 November to 11, during its Singles Day Shopping Festival.

JD.com said sales of fashion surpassed 100 million RMB (£11bn) in one minute.

Singles’ Day began in 2009 as an event aiming to raise awareness of online shopping to Chinese shoppers. Today, it is the largest global shopping event in the world, larger than Black Friday and Cyber Monday combined.

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