Yesterday, on November 11, also known in China as 11.11 or Single’s Day, we reported on the increase in sales in comparison to last year’s sales day, that hit $3.1 billion in the first half of the day. That amount was similar to what was spent last year in a 24-hour period. Today we have the final numbers of the biggest Ecommerce day in history.
Ecommerce giant, Alibaba reported that in 24 hours they reached $5.75 billion in total sales. That is about an 85% increase in comparison to last year’s Single’s Day that was recorded as the previous largest Ecommerce spending day, until yesterday. The majority of the sales took place on Alibaba’s online marketplaces, Taobao and Tmall.
Comparing the numbers with equivalent US online sales day, Cyber-Monday, that saw transactions reach just over $1.5 billion in sales in a 24-hour period last year, China sold more than the US by 380%.
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With the growth rate of Ecommerce, we expect the US to top themselves over last year’s numbers, although sales will most likely not reach the amounts that took place in China yersterday. When looking at the track history, we can expect the next record to be broken by China during next year’s Single’s Day.
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