Alibaba sales surge to $5 billion in 15 minutes on Singles Day

Hit Singles

Hit Singles

Adding together the sales from the most recent Prime Day, Black Friday and Cyber Monday in the USA only total 43% of the sales from last year's Single's Day.

Alibaba hit $5 billion in transactions in less than 15 minutes on Singles Day this year as compare to the cyber shopping event back in 2015, where it took the Chinese e-commerce company a full hour to reach $5 billion in transactions. Ahead of the biggest single-day online shopping event, topping Black Friday, by a long shot is a star-studded gala.

Singles' Day now marks the start of a 24-day shopping festival.

It is selling the lifetime supply of grain-based baijiu, a typical Chinese alcohol, on e-commerce giant Alibaba's business-to-customer Tmall platform.

It is called Singles Day because it is on 11/11, honoring the number one and the people who are single and would like to treat themselves to something nice.

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The logistics arm of Alibaba is expecting to fulfill more than 1 billion orders from Singles Day, which is 50% more than fulfilled during last year's holiday, Squali said.

Singles' Day is a holiday created to serve as an alternative to Valentines Day in China.

The countdown toward Singles Day has become a cultural event. With more global brands participating in the holiday with deals, sales could be much higher than a year ago, according to Squali.

The headline sales number is likely to top last year's total of 113bn yuan (£13bn), an increase of almost a third from 2015. The event held on the evening on November 10 is basically a warm-up act until the flash sales go live at the stroke of midnight. A Chinese white liquor maker wants to lift lonely spirits by offering a lifetime supply of booze for less than $1,700.

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