Alibaba Singles' Day sales race past $ 10 bn in first hour

Hit Singles

The e-commerce giant uses the China's Singles' Day into a cybershopping event along the lines of Black Friday in the United States. More than 140,000 brands will participate this year, Alibaba said.

The sales were kicked off by the actress Nicole Kidman and Alibaba founder Jack Ma in a Super Bowl style gala. For Alibaba, it's the biggest single day of the year, and the company is gearing up to ship more than 1 billion packages as a result of the holiday.

Alibaba managed to set another one-day online sales record with the 2016 11.11 Global Shopping Event, generating $17.79 billion in sales.

China is in gearing up for Single's Day, the world's biggest shopping event, as $20bn (£15bn) is forecast to be splurged in just 24 hours as companies across the world try to cash in on the spending spree.

We all know about Black Friday and Cyber Monday as they are the biggest shopping days in the USA, but China has an even bigger shopping day that was designed by Alibaba Group Holding Ltd (NYSE:BABA).

Feeling down on "Singles Day" this weekend?

Royal Mail sells a range of British brands on the Tmall website including products from Waitrose and Marvel milk products by Premier Foods.

Nick Landon, managing director of Royal Mail Parcels, said: 'UK brands are really clicking with China's shoppers'.

Comparing Single's Day to Amazon's "Prime Day" gives a good idea of the massive scale of the holiday.

Other retailers will be trying to replicate Alibaba's success on Singles' Day.

The nature of the probe isn't clear, but critics have claimed that merchants selling on Singles' Day have inflated their sales figures.



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