Alibaba Singles' Day Sales Pass $25 Billion, Setting New Record
Alibaba has once again outdone itself on Singles' Day, eclipsing last year's record of of 120.7 billion RMB by a little past 1pm on Saturday, 11/11. The E-commerce juggernaut raked in a total of 24.4 billion USD, marking a 39% increase from last year.
At its zenith, the company processed 256,000 transactions per second, 90% of which were conducted via mobile devices. Shoppers from 225 countries and regions spent their hard-earned cash on everything from refrigerators to giant inflatable Trump chickens.
In an effort to appeal to a more global audience the online bazaar worked with traditional retailers as well as hosted a gala with actress Nicole Kidman and rapper Pharrell Williams. According to Bloomberg, the event helped over 80 brands garner over 100 million in collateral cash, with Nike, Xiaomi, and Uniqlo at the head of the pack.
Traditionally a day for, you know, single people, the event has since morphed into a glitzy shopping bonanza during which serial spree spenders, including couples, flock to their favorite E-commerce site to engage in a virtual Black Friday. Because why not ruin the one day dedicated to us lonely bastards? You don't see us single guys going up to dates on one of the two Valentine's Days and playing Xbox and cranking one out on their overpriced milk chocolate hearts. But we digress.
Photo via Sky News