Alibaba’s Singles day raked a record of $74.1 billion in the November 11 Chinese shopping event, which celebrates the pride of being single. This years’ sales almost doubled the sales of last year’s event, which recorded Gross Merchandise Volume of $38.4 billion. However, this comparison is rather unfair given the longer period of this years’ Singles Day.
The records sales come from high sales from European and foreign markets and the extension of the event. The 2020 Singles Day was extended from a one day November 11 shopping extravaganza to include November 1 through November 3.
Alibaba’s competitor JD.com also set a record for the shopping event, raking close to $41 billion.
This year, the platform recorded orders at the rate of 538,000 orders per second, going up to 596,000 orders per second. The platform also added approximately 2,000 new foreign categories to cater to the Chinese middle class’s tastes. PYMNTS reports that this years’ event hosted 250,000 brands in general, with Alibaba promising to introduce over 2 million products this year.
