Alibaba Singles' Day sales race past $ 10 bn in first hour
ANI | Updated: Nov 11, 2017 09:23 IST
In two minutes, Alibaba's gross merchandise volume totalled $1 billion and in the next 40 minutes, the site's sales had surpassed $7 .5 billion .
The e-commerce giant said that the first delivery was made in 12 minutes after midnight .
Alibaba hit $5 billion in transactions in less than 15 minutes on Singles Day this year as compare to the cyber shopping event back in 2015, where it took the Chinese e-commerce company a full hour to reach $5 billion in transactions .
According to reports, within the first 30 seconds, 97 percent of sales were generated through mobile devices .
The e-commerce giant uses the China's Singles' Day into a cybershopping event along the lines of Black Friday in the United States .
China's Singles' Day is an entertaining festival widespread among young Chinese people, to celebrate the fact that they are proud of being single .
This festival has become the largest online shopping day in the world, with Alibaba's sales at US$ 5 .8 billion in 2013, US$ 9 .3 billion in 2014, US$ 14 .3 billion in 2015 and over US$ 17 .8 billion last year . (ANI)