National Singles Day, the highlight of the year for Chinese retail, was a hugely successful day for e-tail giant Alibaba. On that day alone, 11 November, it generated a 57.1 billion yuan (7.5 billion euro) turnover!
The new record turnover came courtesy of 278 million orders, 43 % of which through mobile phones, and had Alibaba outperforming expectations and nearly doubling its own record. Last year, it sent out 150 million packages, worth nearly 4 billion euro. Jack Ma, Alibaba's CEO, had counted on "only" 200 million packages this year.
The Chinese National Singles Day is the world's biggest sales opportunity since web shops joined in 2009. International brands now also joined in the holiday spirit: 27,000 large brands (like Spanish Desigual and American The North Face) discounted a lot of products.