China Digital

Singles Day Ends With $5.7 Billion Spent On Tmall

As Singles Day concluded it was obvious the quirky holiday was on its way to smash records. By 12pm yesterday, after 12 hours since the online sales frenzy started, Tmall alone accrued $2.86 billion in online sales, surpassing totals sales accounted for last year’s “Cyber Monday.” As the sale drew to a close at midnight China’s largest shopping event topped $5.7 billion (RMB 35 billion), an 83% increase from the previous year. Not only did sales increase but one point of interest was the way these sales were done. Approximately 21% of total orders (171.4 million) were placed over mobile devices, up from 5% last year. The increase is probably due to the free mobile data the Alibaba group provided during the 11.11 sale. But all is not business. Jack Ma, Alibaba Group’s executive chairman, said that he believes this sales event is not just to “post big numbers” but to actually build a relationship between business’ and its customers., Mr. Ma hopes that in the future 11.11 will be day where merchants can thank consumers.

Source: Alizila