Alibaba 11.11 Singles Day 2016 Blasts Past A $1 Billion In Sales In First 5 Minutes

Posted: Nov 10 2016, 11:02am CST | by , Updated: Nov 11 2016, 3:58am CST, in News | Latest Business News

 

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Alibaba 11.11 Singles Day 2016 Blasts Past a $1 billion in Sales in first 5 Minutes
 

the Alibaba 11.11 Global Shopping Festival, the world’s largest 24-hour online sale, started today, Nov. 11, at midnight China Standard Time (CST). Check this live blog for updates as the sale progresses.

The Alibaba 11.11 Singles Day 2016 has launched in China. The online shopping event generated a $1 billion in sales in 4 minutes and 54 seconds. Sales on mobile hit the $1 billion mark at 5 minutes and 31 seconds into the 24 hour sales event. The Singles Day 2015 raked in $14.3 Billion in sales, compared to $9.3 billion a year earlier.

Update: Alibaba Group’s 11.11 Global Shopping Festival, the world’s largest 24-hour online sale, started today, Nov. 11, at midnight China Standard Time (CST). At 15 hours and 19 minutes into the sale, total GMV hit RMB 91.2 billion, surpassing the GMV total for the 24-hour sale last year. 

This means that the Singles Day 2016 has sales 9 hours before the end of close to $14 billion. The exchange rate dropped compared to last year. 

Broll handout includes: First hour results displayed at the media monitor room, Alibaba Headquarters, employees preparing for 11.11, video of 11.11’s complete virtual reality shopping experience, 11.11 signs in Hong Kong and TV ads, full-screen and mobile shots of 11.11 Tmall websites, Tmall Fashion Show and Catch Tmall Cat at KFC.

Update: At the 12 hour, 29 minute mark of the sale, total GMV exceeded RMB 82.4 billion ($12 billion), with mobile accounting for 83.55 percent of the total.  Alibaba Group President Michael Evans had this to say: “With roughly 11 hours to go, we’re in a good place.” It is save to predict that the 2016 Singles Day will break the record of last year.

As the Alibaba 11.11 Singles Day 2016 is off to an extreme fast start, it will be breaking last year's sales record, unless the Alibaba owned online shops suffer an outage.

This year more than 100,000 merchants, including 11,000 international merchants, are participating. This is up from 27 merchants in 2009, when Alibaba launched the event. There are also many American retailers participating in the 11.11 Singles day sale including Macy's and Target.

“11.11 has evolved far beyond a 24-hour sales event,” CEO Daniel Zhang said in a statement. “From today through Nov. 11, consumers will discover, explore, play, watch, comment, share, recommend and shop across our entire ecosystem with our merchants both online and offline.”

Ahead of the launch Alibaba held its second annual 11.11 Countdown Gala Celebration with international celebrity guests including Katy Perry. Read everything you need to know about the Alibaba 11.11 Singles Day.

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr () is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com.

 

 

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