The move by JD to kick start its sales event on November 1 was in a bid to reduce delivery bottlenecks as well as offer users more time to make their purchasing decisions. "We could take the gala overseas very soon". And about 90% of the purchases were done through mobile as the company reveals.
Although the celebration for single people has existed since the mid-90s, the annual event has become a relevant date for online retailers in China since 2009, when Alibaba began offering discounts on its e-commerce platform.
The Shanghai-based principal at China Market Research Group, Ben Cavender, while speaking in relation to the matter said that in terms of scale it dwarfed all the events that had been going on out there. At its peak, the company's processors handled 256,000 transactions per second. According to a report, the Singles' Day sale has doubled from last year's Black Friday and Cyber Monday sales in USA.
The total gross merchandise volume or the amount of sales transacted on Alibaba's platforms was almost four times the combined online sales of "Black Friday" and "Cyber Monday" in the US, Alibaba officials said.
Alibaba teams have fanned out across the nation before the event to help outlets - some 600,000 mom-and-pop convenient stores and about 1,000 brands - upgrade their computer systems.
To connect a 10th of China's six million convenience stores to the internet, Alibaba uses an app called Ling Shou Tong, meaning "connect retail". The goods are shipped from dedicated Alibaba warehouses, obviating middlemen. The interactive show, aired on Thailand's most watched channel and live-streamed on Lazada TV, featured celebrities singing and taking part in interactive games. "The dollar figure was up more steeply due to the strength of the yuan against the greenback this year".
As in previous years, Alibaba was the big victor as it generated CNY 168.2bn ($25.3bn) in sales. Alibaba is already starting to see the initiative trickle into the top line. It processed more than 1.48 billion transactions in total and has processed 812 million total delivery orders. For example, Alipay dealt with over a billion transactions and Cainao delivered 657 million packages in 24-hours on Singles Day.