Published: Mon, November 11, 2019
Economy | By

Alibaba says Singles’ Day sales hit $13 billion in first hour

Alibaba says Singles’ Day sales hit $13 billion in first hour

Last year, an estimated 1 billion packages shipped as a result of "Singles Day" purchases, according to Reuters. Total sales today clearly look set to eclipse analysts' expectations of a new record.

China's Alibaba is seeking large-scale deployment of a self-developed liquid-cooling technology on the processors in its data center prior to the arrival of the Double 11 shopping spree Monday.

Originally conceived by young people celebrating the joy of being single, November 11 (11.11. - each digit representing a single person) has evolved into a huge shopping event, with Chinese e-commerce giant Alibaba particularly successful in marketing the occasion.

Previous year was Alibaba's largest Singles' Day ever, with a total of $30.8 billion in revenue, a 27% increase over 2018.

This year's Black Friday weekend is widely expected to set another record for US e-commerce but won't come anywhere near Alibaba's record sales given the latter's first hour sales alone.

This year, the 24-hour shopping fest kicked off with a performance by USA pop star Taylor Swift.

Sales on Black Friday (including Thanksgiving) came to $8.2 billion while Cyber Monday netted $6 billion.

The U.S. Black Friday shopping frenzy this year will take place on November 28 while Cyber Monday is scheduled for December 2.

Singles' Day was among the top trending topics on China's Twitter-like Weibo platform on Monday morning, with users discussing what they spent on. Thousands of couples now marry on Singles' Day, which is a fact at odds with its name.

"Online shopping grew 16% in 2018 - that's eight times faster than in-store shopping", says Bryan, "NZ Post will also be investing significantly in the parcel network over the next three years to continue to meet this growth".

Alibiba's Singles Day isn't just an online shopping festival but also a high-on-glamour affair.

Different Chinese language corporations provide offers on Singles Day, together with Pinduoduo - the nation's third-largest e-commerce platform.

The new tech launched Thursday by Alibaba Cloud, the cloud service provider under Alibaba Group, is a special liquid coolant whose function is similar to soaking Alibaba's numerous processors in cool water.

According to Adobe Analytics, around 24% US retailers are likely to run promotions on this year's Singles Day.

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