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Chinese group Ali said orders through its e-commerce sites during the Singles Day buying spree surpassed $ 56 billion as of Wednesday morning as consumers purchased around 16 million items subject to the cut. .
This day is the biggest selling opportunity in the world as it bypasses Black Friday and Internet Monday in the US combined and spans four days this year.
The performance is likely to be good news for Alibaba Group Holding Company, a week after losing about 10% of its market value after the regulator removed the listing of its financial technology subsidiary Ant Group.
This sales performance also comes in light of an economic recovery with the Corona virus outbreak under control in China, as border closures and limited movement mean more consumers are spending at home. Given their size, these sales are widely seen as an indication of the strength of China’s economic recovery after the virus outbreak.
In addition to simple discount rates on regular product prices, Alibaba is urging buyers of its multiple platforms to use mobile gaming apps, choose multiple in-store purchases, and place orders in the early hours of the market. discount period to get the best deals.
Orders on the GMV platform topped 372.3 billion yuan ($ 56.3 billion), recording a record number of orders of 583,000 per second, Alibaba said. Two million items were offered for discount for the first time, nearly double the number from last year when the platform reported sales of $ 38.4 billion on the same day.
Analysts expect sales of luxury brands to rebound this year in China, as consumers who usually travel abroad stay at home due to border closures and travel restrictions.
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