Singles Day: Alibaba festival sales reached 73.8 billion euros

At midnight on Friday in China, the e-commerce giant, Alibaba Group, ended its thirteenth ‘Global Shopping Festival’, known as Singles Day, with a collection of 540.3 billion yuan, equivalent to 73.8 billion euros, a 17.5% more compared to the previous edition.

“This 11/11 World Shopping Festival showed sustained, quality growth that is a reflection of China’s dynamic consumer economy. In addition, we harness the power of 11/11 as a platform to fulfill our social responsibility. This year’s festival was a significant milestone that is part of our commitment to building a sustainable future, ”said Yang Guang, Vice President of Alibaba Group.

The event, which marked the beginning of the year-end sales season, broke the record with a participation of 290,000 brands, of which 65% are small and medium-sized companies, manufacturers of industrial sections, and new brands.

In this issue, Alibaba reported, more than 45% of consumers who made purchases were born in the 1990s and 2000s. And those who were born in the 2000s increased by 25% from last year.

Furthermore, more than 1.3 million new products were offered by more than 29,000 foreign brands that participated through ‘Tmall Global’ this year, of which some 2,800 participated for the first time.

The global shopping festival started in 2009 with the participation of only 27 merchants as an event where merchants and consumers could raise awareness of the value of shopping online.