Alibaba says Singles' Day sales hit 91.2 billion yuan in first hour

Singles Day 2019: Alibaba's shopping day bigger than Thanksgiving, Black Friday, Cyber Monday combined

Singles Day 2019: Alibaba's shopping day bigger than Thanksgiving, Black Friday, Cyber Monday combined

Singles' Day has broken sales records every year in its 10-year history.

Sales hit the $1 billion mark in the first minute and eight seconds, Alibaba said.

Alibaba began promoting Singles' Day as another day for love in 2009.

It's "11/11", also called "Singles' Day" or "Double 11", a 24-hour purchasing frenzy hosted by the Chinese language e-commerce large Alibaba.

Last year, Singles Day generated sales of $30 billion, while Adobe Analytics expects the five-day stretch from Thanksgiving Day through Cyber Monday will generate sales of $29 billion.

Originally conceived by young people celebrating the joy of being single, November 11 (11.11. - each digit representing a single person) has evolved into a huge shopping event, with Chinese e-commerce giant Alibaba particularly successful in marketing the occasion. It is now considered a significant event in the global retail calendar.

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Daraz Group, owned by Alibaba Group Holdings Ltd, first brought 11.11 to South Asia previous year and is gearing up again with celebrations in Pakistan, Bangladesh, Sri Lanka, Myanmar and Nepal. It also projects 50 million online buyers in Southeast Asia alone during Singles' Day. "Singles' Day really kicks off the busy period for NZ Post". In November and December it delivered a total of 14.5 million parcels.

This time previous year, NZ Post was delivering an average of nearly three parcels a second. After years of steep growth, last year, the number reached 213.5 billion yuan.

Overall 1.8 million New Zealanders shopped online in 2018, spending a total of $4.2 billion.

"This year we will be stimulating consumption demand and supporting lifestyle upgrades in China by supporting lifestyle upgrades in China by supplying all new brands and products and we are excited to see how large and small Australian companies engage with consumers".

More than 22,000 worldwide brands from over 78 countries and regions will participate in this year's 11.11 on Tmall Global, Alibaba's dedicated channel for cross-border e-commerce.

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