Alibaba’s ‘Singles’ Day sales hit $10 bn in less than 30 minutes

A general view of the 2019 Tmall 11:11 Global Shopping Festival gala

A general view of the 2019 Tmall 11:11 Global Shopping Festival gala

E-commerce giant Alibaba's Singles' Day sales on Monday hit Dollars 10 billion in less than 30 minutes of the event going live.

According to Alibaba, the number of orders created at the peak of the 2019 11.11 Global Shopping Festival reached 5,44,000 orders per second, which is 1,360 times that of the first edition of the festival in 2009.

The 11.11 Global Shopping Festival Gala Celebration will have performance by Grammy Award winning singer-songwriter Taylor Swift and a host of other worldwide and local celebrities.

This chart shows Alibaba's GMV on Singles' Day vs. US ecommerce sales on Thanksgiving weekend.

The total value of merchandise sold hit the 100bn-yuan mark around 40 minutes faster than a year ago, the firm said.

Officials announced Monday that the shopping blitz has already hit at least $23 billion in the first nine hours - that's up 25% from 2018. "I would be really surprised to not see it come in above $32bn", said Daniel Newman, technology analyst at Futurum Research.

Ronaldo leaves stadium before final whistle after being substituted
Hakan Calhanoglu also tested Szczesny in the second half with a freekick before Dybala's moment of brilliance settled the match. The Argentine almost struck again in stoppage time but was denied by Donnarumma.

Huawei Technologies, China's largest smartphone brand, said sales on its self-run Huawei online mall took only 1 minute to exceed the full day November 11 sales recorded past year, while its budget brand Honor was the No 1 seller on all three major e-commerce platforms, Tmall, JD.com and Suning.com, in the first two hours. Yet the 27 percent sales growth was the lowest in the event's 10-year history, spurring a search for fresh ideas. Thousands of couples now marry on Singles' Day, which is a fact at odds with its name.

The trade battle has cast a shadow over the Chinese economy as it grapples with a wider slowdown.

Current chief Zhang, who pioneered the present form of the show in 2015, passed the baton of the event this year to Jiang Fan, president of e-commerce marketplaces Taobao and Tmall, and a potential successor to Zhang himself.

According to the company, top ten economies that bought products from China are Hong Kong, Taiwan, the US, Australia, Singapore, Japan, Malaysia, the UK, Macau and Canada, respectively.

USA market research company Forrester said total combined e-commerce sales by all US platforms on Black Friday and Cyber Monday in 2018 hit $14.2 billion, which was just 46 percent of Alibaba's total in that year.

Last month, China's market regulator published new draft packaging standards that will restrict courier firms to an approved list of recyclable material.

Recommended News

  • Briefing: Google Considers Changes to Political Ad Policy

    Briefing: Google Considers Changes to Political Ad Policy

    Just now, on Thursday, Nov. 7, Facebook stated that it is also mulling on plans to change its political ad policy. The startling claim sent shockwaves and even forced companies like Facebook and Google to rethink its policies.
    Winter storm watch on horizon for Cuyahoga County, snow belt areas

    Winter storm watch on horizon for Cuyahoga County, snow belt areas

    Joseph Counties from tomorrow morning to Tuesday evening, and a winter weather advisory for everyone else for tomorrow. Along with accumulating snowfall, winds are expected to increase to 20 to 30-mph from 3 a.m. through 9 a.m.
    Rainbow Six Siege: New Season New Ops, Kind of New Theme Park?

    Rainbow Six Siege: New Season New Ops, Kind of New Theme Park?

    The Rainbow Six Pro League is ready to crown another world champion with this weekend's Season X Finals from Japan. A new Capitao Elite Skin (in which he's a...soccer player?) serves to round up the entire Shifting Tides package.
  • Marvel Hires She-Hulk and Moon Knight Writers for Disney+ Shows

    Marvel Hires She-Hulk and Moon Knight Writers for Disney+ Shows

    Created by Doug Moench and Don Perlin, Marc Spector AKA Moon Knight , first appeared in Werewolf by Night #32 in August of 1975. In the comics, this character has had several different stories, and nearly different stories of origins.
    Target's 2019 Black Friday ad is out

    Target's 2019 Black Friday ad is out

    Target has unveiled HoliDeals - thousands of deals throughout the season on items like décor, electronics, toys and more. Not all deals will be posted at that time, however; some will pop up throughout the day.
    Devils score 2 quick goals, hold on to beat Canucks 2-1

    Devils score 2 quick goals, hold on to beat Canucks 2-1

    Forward Brock Boeser took a pass and rushed up the right side before snapping a shot off the far post and past Blackwood at 12:40. Canucks defenseman Quinn Hughes had one assist in the rematch with younger brother Jack Hughes, who was held without a point.
  • Mural of activist Greta Thunberg going up in San Francisco

    Mural of activist Greta Thunberg going up in San Francisco

    Swedish climate activist, Greta Thunberg , attends a climate rally, in Vancouver, British Columbia. "I shouldn't be up here". Swedish teen environmental activist Greta Thunberg speaks at a climate change rally in Charlotte, N.C., November 8, 2019 .
    NewsAlert: Sportsnet apologizes for Don Cherry's anti-immigrant comments

    NewsAlert: Sportsnet apologizes for Don Cherry's anti-immigrant comments

    The National Hockey League said in a statement that Cherry's remarks were "offensive and contrary to the values we believe in". We're proud of diverse cultural heritage and we'll always stand up for it. "New immigrants enrich our country for the better".
    Further delays announed for Crossrail

    Further delays announed for Crossrail

    Crossrail chief executive Mark Wild said: "A key focus during 2019 has been finalising the stations, tunnels, portals and shafts". The rail link was at first supposed to be completed in December 2018 , but this date was also missed due to a series of problems.
  • Kanye West considering legally changing name to 'Christian Genius Billionaire'

    Kanye West considering legally changing name to 'Christian Genius Billionaire'

    Kanye West says that he might be changing his name... and it's all to get back at Forbes . The two marked the milestone by eating bugs together .
    Justice League Snyder Cut Superman vs. Steppenwolf Battle Art Revealed

    Justice League Snyder Cut Superman vs. Steppenwolf Battle Art Revealed

    The film was completed by Joss Whedon, who directed additional scenes and eventually received a screen writing credit on the film. A Justice League storyboard from Zack Snyder's edition of the film showcases Henry Cavill's Superman preventing Steppenwolf.
    Cam Newton considering surgery for injured foot

    Cam Newton considering surgery for injured foot

    But there's one name that's been mentioned in Carolina Panthers quarterback Cam Newton that could be gaining some traction. He has thrown for 1,291 yards with nine touchdowns and four interceptions.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.