News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

Alibaba Smashes Singles Day Record with $14.3 Billion in Sales – Nov. 12, 2015

Alibaba Smashes Singles Day Record with $14.3 Billion in Sales China’s Singles Day, a promotional stunt created by e-commerce retailer Alibaba.com in 2009, reasserted itself as the biggest online shopping day in the world. This year, Alibaba raked in $14.3 billion in sales, underlining China’s dominance of e-commerce. Cyber Monday, the biggest online shopping day in the U.S., generated $1.35 billion last year. Yesterday’s total just on Alibaba, which accounts for around 80 percent of Chinese online sales for the day, was 60 percent higher than last year. Alibaba said it took only 12 hours yesterday to surpass last year’s total of $9.3 billion and that shoppers logged an estimated 120,000 orders per minute. The company noted on its official news site that mobile transactions sharply increased this year, compared to 2014. Transactions completed via mobile devices and settled by Alipay, the company’s payments unit, accounted for nearly 69 percent of total sales volume vs. 43 percent last year. The company did not indicate how much sales volume was the result of international merchants selling through Alibaba marketplaces, but said one-third of total buyers purchased items from international merchants. The U.S., Japan, South Korea, Germany and Australia represented the top-selling countries outside of China on Alibaba’s platforms.
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Daniel Leibovitch