Chinese marketplace Alibaba expects a great deal from this years’ Singles Day. It predicted that 100 million more Chinese will place and online order compared to 2018. In the Chinese market, at least 200.000 brands are participating. Over a million of products are offered with a Singles Day-discount.
In the first minute and eight seconds, the total turnover already crossed the 1 billion dollar mark. In comparison to 2018, this years’ first hour saw a turnover of 13 billion dollars, an increase of 32% compared to the previous year. After ten hours, the 23 billion dollars mark was passed.
Alibaba invented Singles Day, where singles buy gifts for themselves, ten years ago. In 2018, online traders on Alibaba accounted for a turnover of 30.8 billion dollars. This year, the total Alibaba turnover is expected to reach the 37 billion dollars mark, a year-on-year increase of 20%
It is not only Alibaba that profits from their own invented holiday. Other platforms, like JD.com, perform very well too. In the Chinese market, JD.com generated a 23 billion dollars turnover in 2018. This year, it has opened a brand new physical store where a thousand Singles Day products are offered.