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Chinese e-commerce giants Alibaba and JD.com achieved nearly $ 115 billion in sales on their platforms on Singles Day.
The record sales figure comes as Singles Day has been extended, until midnight on November 12.
Alibaba said the total value of goods sold over the 11 days through the buying platforms was 498.2 billion yuan – or $ 74.1 billion. This figure has nearly doubled from 268.4 billion yuan last year.
Meanwhile, JD.com’s transactions during the same period amounted to 271.5 billion yuan ($ 40.97 billion), or more than 204.4 billion yuan recorded in 2019, according to a report seen by Al-Arabiya Net.
Hong Kong-listed Alibaba shares rose 3% on Thursday, while Hong Kong-listed JD.com shares rose more than 7%, showing signs of a recovery.
Alvin Liu, president of Tramal Import and Export Company, told CNBC last week that Chinese buyers should purchase more foreign products through the two platforms, which typically travel abroad to purchase these products, due to travel restrictions.
Alibaba said 250,000 brands participated in the Singles Day event this year, including 31,000 foreign brands. Alibaba said the United States was the first country to be sold to China by GMV.
Michael Evans, chairman of Alibaba, said more than $ 5 billion of the company’s total sales during Singles Day came from U.S. products through GMV.
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