Alibaba smashed last year's Singles Day record with over $74 billion in sales amid worries over the pandemic
Mary MeisenzahlNov 11, 2020, 22:53 IST
The Hangzhou Future Sci-Tech City Academia Exchange Center was lit up to celebrate the shopping holiday.
A giant board kept track of spending over the 24-hour event, with more than $56 billion, or RMB 372.3 billion, in sales by 12:30 a.m. on November 11.
More than 250,000 brands and 800 million consumers participated in the world's largest shopping event.
This was the first year that the sale was spread over four days, rather than just on November 11 .
Alibaba sales passed $74 billion this year, likely boosted by the longer shopping time.
Despite the pandemic, Alibaba nearly doubled sales from last year's record of more than $35.8 billion.
Sales were high right from the start, with a special interest in foreign brands. Nike passed $15 million in sales in only one minute, Alibaba said in a livestream.
This year also had increased buy from luxury brands, with 200 including Prada, Balenciaga, and Cartier.
Alibaba saw 16 times as many sales as Amazon's Prime Day event this year, according to Reuters.
Imported food and drink were also popular. Imported wine sales were up 400%, and imported coffee sales were up over 90%, Alibaba said.
Alibaba cofounder and Executive Vice Chairman Joe Tsai explained during the livestream that Singles Day is a sign of where commerce is going. "Businesses will have to deal with what happens when nobody comes into stores. I don't think things will return to the normal brick and mortar world."