On Wednesday, China's biggest online commerce company, Alibaba (NYSE: BABA), has surpassed last year's Singles' Day sales of $9.3 billion. Singles' Day, in other words is called the "bare sticks holiday" or preferably a day for individuals who are single. This date is chosen for coupling between singles referring to people as the number "1", which also offers bizarre online discounts and other promotions to furtherance sales mostly aimed towards millennials. Records show that Singles' Day is the biggest online shopping event outperforming both United States shopping sensations, Black Friday and Cyber Monday, combined in sales. The total value of goods that was purchased during this day generated over 91.2 billion yuan, or $14.32 billion.
China's second biggest online commerce firm and Alibaba's rival, JD.com Inc., has reported that it also has exceeded past last year in revenue generated by sales on Wednesday. JD.com Inc. also did not release any information on the amount of revenue achieved by sales of online customers.
"Alibaba is positioned as the number one player in the Chinese e-commerce market, so it has to be seen to be maintaining, or gaining ground really," said Duncan Clark, chairman and co-founder of online BDA China (www.bda.com), including internet companies such as Netease and Sina.
According to Alibaba, Chinese postal service, China Post, expects to deliver over 750 million packages for this specific sales event. Alibaba released China Post data of the number of deliveries having to be made on its website, but the company modestly stopped short.
“For its part, Alibaba Group - which started the sale in 2009 and runs China’s largest online marketplaces - isn’t making predictions. If past is prologue, though, then last year’s results might be indicative,” reported by Alibaba's press release.