More than 9 billion dollars spent on Singles’ Day

Chinese e-commerce giant Alibaba reported more than USD 9.3 billion in sales on their 11 November Singles’ Day. Similar to Cyber Monday and Black Friday in the USA, Alibaba’s Singles’ Day offered stunning discounts to shoppers, and although they didn’t reach the targeted USD 10 billion sales, the realised USD 9.3 billion surpassed last year’s USD 5.8 billion by far. The promotion campaign started already on 15 October. 42.6 percent of orders came from a mobile platform. 27,000 brands and retailers participated in Alibaba’s Singles’ Day, including Muji, Desigual, The North Face and Costco. In China online sales amount to USD 390 billion at the moment but they are growing dynamically.