Alibaba breaks singles day record with more than 38.4 Billion in Sales
Alibaba breaks Singles Day record with more than $38 billion in sales
GMV of 38.4 Billion and more than 90% of it happened on Mobile Devices.
HANGZHOU, China:
It was the 11th edition of the annual Singles Day event — also called the Double 11 shopping festival because it falls on Nov. 11. During the 24-hour period, which began at midnight in Singapore and Hong Kong, Alibaba offered huge discounts across its e-commerce sites such as Tmall.
Alibaba’s Singles Day sales last year exceeded the spending by consumers during any single U.S. shopping holiday such as Black Friday or Cyber Monday.
LIVESTREAMING:
To help boost sales, Hangzhou-based Alibaba expanded the number of discounted items in this year’s event and put a heavy emphasis on live streaming via its platforms to help sell goods. Live streaming has become a big part of the shopping experience on Chinese e-commerce sites.
FRAGRANCE BRAND KKW:
Online personalities often speak to their followers and talk about products as well. On Wednesday, Kim Kardashian-West did a live stream with China’s top livestream influencer VIYA announcing her fragrance brand KKW will be available for sale on Tmall. She sold 15000 units in under 2 minutes !
TOP CATEGORIES:
64 brands, both Chinese and American, have already hit $14 million in preorders, with sales records being broken by cosmetic lines, including Lancôme, L'Oréal, Estee Lauder and Olay, and electronics brands such as Apple, Dyson, Siemens and Philips.
"This year the demand is very strong demand across the board and iconic American brands are doing very well," . Hot product categories for Singles' Day sales? Beauty, Clothing, Shoes, Sporting goods and Electronics.