Alibaba records record revenue for Singles Day

Alibaba's Singles Day skyrocket raking in $30.8bn in revenue this year

12Nov

Chinese e-commerce giant Alibaba generated its biggest-ever Singles Day sales with $30.8bn in transactions recorded within a 24-hour period.

Alibaba's Singles Day sale event was first developed 10 years ago targeting those not romantically attached and has grown to become larger than Amazon's Black Friday and Walmart's Cyber Monday. Despite the billion-dollar sales and 27% increase on 2017 sales, it was the lowest ever annual increase of sales in Singles Day history.

The accounted-for figures of transactions include orders settled from its online payments service Alipay across online retail services such as AliExpress and Taobao.


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Speaking of the company's growth trajectory, Alibaba CEO Daniel Zhang said that collaboration between brick-and-mortar stores across Alibaba's platforms have expanded this year and that "newly upgraded and digitized smart stores did their part with offline activations around the country".

Alibaba said: "During the 2018 festival, more than 40% of consumers bought from international brands. Also, 237 brands topped RMB100m ($14.4m) in gross merchandise value, including leading international brands Apple, Dyson, Kindle, Estée Lauder, L'Oréal, Nestle, Gap, Nike and Adidas."

Alibaba’s first Singles Day event in 2009 only attracted 27 brands but has today grown to include some 180,000 local and international businesses.

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