Alibaba's Singles' Day sales hit $30 billion, on track for record

Alibaba's Singles' Day sales hit $30 billion, on track for record

As of 1:00am, the top five countries selling to China during Singles' Day by total GMV remained the same as last year's: Japan, the US, Korea, Australia and Germany.

The Chinese online retail giant announced that gross merchandise volume or GMV for the November 11 event came in at 268.4 billion yuan, up 26 percent from a year ago, Reuters reports.

Alibaba said sales by merchants on its platforms had risen to 255.2 billion yuan ($36.5 billion) by 11 p.m. after passing last year's full-day total of $30.8 billion before 6 p.m. JD.com reported sales of 179.4 billion yuan ($25.6 billion) by mid-afternoon.

China has moved to turn recycling into a profitable business as space for landfills becomes scarcer and environmental concern grows over plastic waste, but has yet to tackle e-commerce waste, only recycling around 5 per cent of plastic packaging, the green groups said in their report.

Alibaba competitor JD.com, which holds an 11-day promotion ending at midnight on November 11, said total sales so far had reached $25.6 billion as of Monday afternoon, beating the $22.4 billion spent over the full 11-day stretch previous year.

On Monday, retailers offered discounts on goods from smartphones to craft beer to health care packages.

Initial data provided by TMall on this year's Singles' Day showed that China-made products are gaining increasing consumer recognition.

More than 22,000 overseas brands from 200 countries and regions have participated in this year's shopping spree in China, according to Alibaba. It also smashes the $7.8 million in GMW earned back in 2009 from Alibaba Group's first Singles' Day event. JD.com, the biggest Chinese online direct retailer, said sales reached 165.8 billion yuan ($23.8 billion) by 9am. Consumers also ordered goods worth some 8.16 billion dollars within 18 minutes beating Alibaba's entire day's sales in 2014.

"This year's Singles' Day will have many many new records", Alvin Liu, General Manager Tmall Global Import Export said. Pinduoduo will be also holding its own "Singles' Day" events on the same day. Alibaba's Singles' Day celebrations have featured USA singer Mariah Carey and musician Pharrell Williams in the past.

Consumers may be reluctant to spend on too many things they don't need as they turn a blind eye to online promotions.

-China trade dispute, Alibaba's Single's Day trading performance has drawn attention as a gauge of consumer vitality in the world's second biggest economy. On Wednesday, Kim Kardashian did a livestream announcing her fragrance brand KKW will be available for sale on Tmall.

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