Alibaba Hits Record $38.4 Billion for Singles’ Day Sales

Alibaba Hits Record $38.4 Billion for Singles’ Day Sales

November 11, 2019
Alibaba surpassed its
Now on its 11th run, the shopping festival, held every Nov. 11, marked the first time Alibaba has thrived under a new chief executive officer following Jack Ma’s resignation in September.
Daniel Zhang succeeded Jack Ma as chairman and chief executive officer of Alibaba in September 2019. Image via Alibaba Group
Monday’s final tally ($38,379,306,366) was up by almost 26% compared to last year’s figure ($30,802,477,608), according to the South China Morning Post, which Alibaba owns.
“Singles’ Day is becoming more recognised worldwide … but since it is still very much a domestic holiday and event, it is a true test of Chinese consumer power,” Benson Ng, EY Greater China digital advisory leader, told the outlet.
Image via Alibaba Group
Twelve hours into the extravaganza, Hong Kong, the U.S., Taiwan, Australia and Japan ranked as the top five overseas consumers.
Subscribe to
NextShark's Newsletter

A daily dose of Asian America's essential stories, in under 5 minutes.

Get our collection of Asian America's most essential stories to your inbox daily for free.

Unsure? Check out our Newsletter Archive.

Despite the ongoing trade war, China’s demand for imported goods from the U.S. and Japan remains strong according to Ng, who described it as “very good news.”
View post on Twitter
This year’s Singles’ Day sales dwarfed those of Black Friday’s and Cyber Monday’s in the previous year, which came in at $6.2 billion and $7.9 billion, respectively.
Monday’s figure was also equivalent to more than 80% of Amazon’s online store sales in the latest quarter, according to Reuters.
Alibaba’s headquarters in Hangzhou, China. Image via Alibaba Group
Taylor Swift performed at the event’s opening in Shanghai. The pop star’s latest album, “Lover,” sold better in China than it did in the U.S., according to Bloomberg.
Kim Kardashian also joined the hype, live-streaming on Taobao with Chinese influencer Viya to promote her KKW cosmetics line. About 12 million people watched her broadcast, the Los Angeles Times reported.
Sales reportedly hit $1 billion after one minute and eight seconds. It reached 158.31 billion yuan ($22.6 billion) in the first nine hours, an increase of 25% from the same duration last year.
Alibaba launched Singles’ Day, also known as “11/11” and “Double 11,” in 2009 as an unofficial anti-Valentine’s holiday for single people. Its name — an obvious play on the date — also symbolized single people, Forbes noted.
Feature Images via (Left, Right) Alibaba Group
      Carl Samson

      Carl Samson is a Senior Editor for NextShark




      Many people might not know this, but NextShark is a small media startup that runs on no outside funding or loans, and with no paywalls or subscription fees, we rely on help from our community and readers like you.

      Everything you see today is built by Asians, for Asians to help amplify our voices globally and support each other. However, we still face many difficulties in our industry because of our commitment to accessible and informational Asian news coverage.

      We hope you consider making a contribution to NextShark so we can continue to provide you quality journalism that informs, educates, and inspires the Asian community. Even a $1 contribution goes a long way. Thank you for supporting NextShark and our community.

      © 2023 NextShark, Inc. All rights reserved.