JD.com Claims $19 Bln In Sales On Singles' Day

According to a report, the Singles' Day sale has doubled from last year's Black Friday and Cyber Monday sales in USA.

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This year, Alibaba used Singles' Day to highlight its New Retail initiative, which seeks to tie online and offline more closely.

The massive sales figure during the 24-hour November 11 period was a 39% increase from the prior year when Alibaba executed the massive promotional effort on the same day.

With this being Alibaba's first year owning the majority of Cainiao, the analyst pinpoints delivery orders flew up from 657 million to 812 million, and he deems this delivery network gives BABA an upper hand against its rivals; especially taking under account the e-commerce platform's latest $15 billion reveal of plans to create more capacity.

"168.2 billion yuan sales is not only a record in China, but also a record worldwide", said Alibaba chief executive Daniel Zhang Yong. In a sign of the times, 90% of the GMV from Singles Day was transacted on mobile devices. At one point, the company was processing 325,000 orders a second.

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JD said that total sales for Singles' Day promotion reached 127 billion yuan, or $19 billion, during the first 11 days of November, up 50 percent from a year earlier. Singles' Day is Olympic Games for Chinese merchants.

TV shopping operator Eastern Home Shopping & Leisure Co Ltd (EHS, 東森購物) said its sales on Saturday increased by 80 percent compared with the same day a year ago and represented a quadruple jump over its daily sales.

China's growth rate and the burgeoning relevance of its consumers are "easily" the most important influences on the global economy, according to the former chairman of Goldman Sachs Asset Management.

To connect a 10th of China's six million convenience stores to the internet, Alibaba uses an app called Ling Shou Tong, meaning "connect retail".

EHS attributed the strong growth to the increasing popularity of the Singles' Day shopping event in Taiwan. Ma's company spent billions buying into grocers, shopping malls and even department stores years before Amazon announced its $13.7 billion acquisition of Whole Foods Market Inc. In total, almost 1.5 billion transactions were registered and about 800 million packages will arrive at the customers' doorstep in the next few days and weeks.

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