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

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Sales performance of Taiwanese e-commerce players on Saturday set new records last weekend, thanks to Taiwanese interest in the annual Singles' Day shopping festival that originated in China in the 1990s.

Alibaba also said it had turned 100,000 physical shops around China into "smart stores" for this year's event. At its peak, Alibaba Cloud processed 325,000 orders per second across 225 countries and regions.

The concept was introduced by Alibaba CEO Jack Ma past year in a bid to "tap into the US$4.8 trillion retail sector in China by eliminating the distinction between online and offline commerce". Chief Executive Officer Daniel Zhang said the company wants to make the event more global, and is planning to take its gala overseas soon, without giving a time frame.

Everything about Singles Day is noteworthy, from the sales volume to the number of transactions that get processed on mobile payment platforms.

Before the event kicked off, Citigroup Inc.predicted that the Singles' Day 2017 sale transactions will rise by more than 30% to 158 billion yuan. Singles Day sales dwarf the $12.8 billion in online sales for Black Friday and Cyber Monday, two of the biggest shopping days of the year in the U.S.

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For scale, Singles Day was more than 25 times the size of Amazon's most recent Prime Day, where the company boasted more than $1 billion in sales.

PChome invited singers, such as South Korea's Hyeon-a and Taiwan's Show Luo (羅志祥), for a three-hour Singles' Day event from 9pm to midnight Friday night and broadcast the show on its Web site and its social network accounts. More than three-quarters of a billion people visited Alibaba platforms and had access to more than 60,000 worldwide brands and over a million individual retailers.

The date of November 11 emerged as a counter-cultural antidote to the sentimentality of Valentine's Day.

The event is so successful and popular because Alibaba is so strongly vertically integrated. More than 140,000 brands participated in this year's shopping event. That total was reached in just 13 hours this year.

And after some years had passed, depending on your perspective, there came a new sales opportunity or a wave of commercial exploitation. 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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