Both online eCommerce site broke last years sales record fashionably with a whopping combined sales of US$44 billion in just one day! Alibaba was already set to break the record just after 2 hours into Singles Day sales with US$12 billion and completing gross merchandise value of US$25 billion in 24 hours. JD.com the strong contender to Alibaba also saw an increase with US$19 billion at the end of the day.
China is embracing online shopping quicker than any other nation on the planet, even eCommerce pioneers Amazon can only stand aside and watch the insanity that’s taking place every November 11. Alibaba had a 38% increase in sales compared to 2016 on transaction over its Alipay financial services, almost 90% of purchases are made over the service. The Singles day concept was created by the eCommerse site as a way to celebrate single-hood signified by how the date and month in November stacks up 11.11, and what better way to spend the day but to shopping and in this case…online. Jack Ma will be pretty pleased with the number showing on the mega counter display after midnight, with his company transacted 1.48 billion payments over Alibaba Cloud peaking at 325,000 orders per second.
JD.com is also closing in as strong eCommerce player in China coming in at US$19 billion its first and highest record in sales. The online retailer does not share much details on its operation but its quickly coming up as a threat to Alibaba and is taking away some of the business for sure. Despite the competition, both firms are comfortable with the eventful day and the sales growth for coming years definitely looks promising.




