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Alibaba sales record marked USD 17.8 billion on Singles’ Day (updated)

Alibaba confirmed that its e-commerce arms made new sales records of RMB 120.7 billion (USD 17.8 B) this Double 11 shopping festival on November 11.

More than 13 hours after the event started, its sales volume reached RMB 91.2 billion (USD 14 billion), equivalent to the total sales record that was achieved during the 24 hours last year.

Daniel Zhang, CEO of Alibaba Group, said data from Tmall showed that 90% of the purchasing that happened within the first 10 to 20 minutes was on mobile devices. The platform saw as many as 175,000 transactions within one second at its peak.

Guangdong Province, which is on China’s southern coast, achieved the largest sales record out the 34 provinces and cities across the country. The province saw transaction volumes totalling RMB 4.18 billion in just one hour.

Of the top five provinces and cities with the highest sales volume – Guangdong, Zhejiang, Jiangsu, Shanghai, and Beijing – most are located in southern China.

The top two provinces, Guangdong and Zhejiang, achieved a transaction volume within the first hour that altogether took up 21% of the sales in the nation.

(Top photo from Baidu Images)

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