Alibaba hits a record $25.3bn in sales on Singles' Day

Alibaba hits a record $25.3bn in sales on Singles' Day

In total it was about $25.3 billion in sales was earned in a single day.

And well, Alibaba the e-commerce giant turned this day into a shopping day in 2009.

During the "Singles Day", a one-day shopping event held on November 11, JD.com's transaction volume hit $19.1 billion, up 50% on year, it said in a statement Sunday.

In China November 11th is known as the Single's Day and was declared a decade ago.

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The event helped at least 82 brands top 100 million yuan in sales with Nike Inc., Xiaomi Corp. and Uniqlo Co. among the biggest winners.

At least 331 million packages were handled by Chinese postal and courier companies, 31.5 percent more than the same day previous year, according to the State Post Bureau. The Wall Street Journal reported that last year's total had already been beaten by 1pm on Sunday, just 13 hours after it had begun. It has emerged as the world's biggest shopping event and exceeds the combined sales for Black Friday and Cyber Monday in the U.S. It is a festival widespread among young mainland Chinese people to celebrate the fact they are proud of being single. Of that total, 90% of the GMV was on mobile, settled via Alipay. At its peak, the company's processors handled 256,000 transactions per second. Cyber Monday was also successful: billed as the biggest day in the history of USA e-commerce, it reached $3.45bn in sales, according to estimations by Adobe Digital Insights.

Smartphones and home appliances were the favourites of the public, but buyers also spent higher amounts on luxury goods: for example, an Aston Martin racing yacht was purchased for $2.56m. The now largest e-commerce sale day by volume closed with a new record 45 billion dollars in online shopping.

Consumer spending in China accounted for 40 percent of the GDP, compared with nearly 70 percent for the U.S. Reaching that level would translate to annual spending of 700 billion to 800 billion dollars, according to Tsai's projections.

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