Posted On 2017/11/12 By In News, Internet, Media, Social Media, Retail, Shopping With 423 Views

Alibaba smashes Singles Day Record as Shopping Spree hits $25 billion

China’s 24-hour orgy of online shopping has ended on a climactic high. Singles Day shoppers spent a record US$25.3 billion, eclipsing last year’s US$17.7 billion tally. The figure is for Alibaba’s two marketplaces, which dominate China’s booming ecommerce industry. JD, Alibaba’s closest rival, saw US$19.1 billion spent during its sales event, which ran from November 1 to 11.

A record high 90 percent of spending was done on phones and tablets, said an Alibaba spokesperson. Last year it was 82 percent, and 69 percent in 2015. Alipay, Alibaba’s mobile wallet app, processed around 256,000 payment transactions per second at its peak within the first 10 minutes of the shopping festival. A total of 1.48 billion transactions were processed by Alipay in the entire 24 hours.

China’s online shoppers are set to spend around US$1.2 trillion during the course of this year, up from 2016’s US$911 billion, according to data from Emarketer.

Still room to grow

While consumers showed increasing enthusiasm for the day of discounts across China’s ecommerce sites, not everyone is a fan of the annual Singles Day phenomenon, which first started in 2009. “Singles Day is a disaster for the environment. Alibaba isn’t doing nearly enough,” said Greenpeace East Asia toxics campaigner Nie Li to Agence France Presse.

Greenpeace estimates the 24-hour shopfest last year generated 130,000 tonnes of packaging waste – less than 10 percent of which was recycled. China’s Singles Day had surpassed the US’ Black Friday and Cyber Monday in scale already back in 2012.

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Article: Tech in Asia

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Spanning a career of over 25 years in hospitality, and non-profit organizations, Daniel has a proven track record in training and development of people across the spectrum. His expertise in human resources and as President / CEO of a nationwide non-profit gave him a strong foundation in cultural diversity and conflict resolution. Honored as one of the most influential executives under 40 in 2003, Daniel meshes his background in HR training and hospitality management by leading BMG's Global Ready China Seminars.

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