Singles' Day Surpasses $25B In Sales

Public Desire embroidered lace-up block heel

The Singles Day sales figure significantly dwarfs that of the US' Black Friday and Cyber Monday sales.

Singles' Day now exceeds the combined sales for Black Friday and Cyber Monday in the United States.

With more than half of China's 1.3 billion people being smartphone users, it is no surprise that more than 90% of orders were made by mobile, majority on taobao.com, Alibaba's main e-commerce platform.

The 2016 11.11 Global Shopping Event was generating $17.79 billion in sales. Just five minutes after midnight, Alipay, Alibaba's online payment system, was already processing 256,000 transactions per second, double the highest rate recorded a year ago.

"In terms of scale, it just dwarfs any other event out there", said Mr Ben Cavender, Shanghai-based principal at China Market Research Group. Singles' Day, then, appears to be celebrating a marriage after all-one of cyberspace and reality.

Couriers and robots are expected to deliver an estimated 1.5 billion parcels over the next six days. It takes its name from the way the day is written numerically as 11/11.




The event, now indulged in by all consumers whether with or without a better half, takes pride of place in the calendar of manufacturers and retailers in the country, making up a significant share of annual orders for many businesses. Ahead of the event, the retailer also outfitted almost 100,000 of its Tmall stores across China with facial recognition technology to process payments. About 90 percent of transactions were done via mobile. There were 256,000 payment transactions processed per second by Alipay, Alibaba's Alizila news website reported.

But environmentalists accuse Alibaba and other e-tailers of fuelling a culture of excessive consumption and mountains of waste.

Singles's Day far out ranks the entire Black Friday Weekend in terms of sales, past year Single's Day sales were triple the combined total from Thanksgiving, Black Friday and Cyber Monday.

A decade ago, November 11th was a tongue-in-cheek cultural "celebration" of single people in China.

"This is just the start".

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