Chinese Singles' Day sales hit record

Added On November 13, 2017

Known as China's Singles' Day, November 11 has become an online shopping spree since 2009.
And this year's Singles' Day just saw another record-breaking sales figure.
ECONOMY REPORT has the details.
At just three minutes past midnight on Saturday, China's Singles' Day, sales on Alibaba's TMall hit 10 billion yuan, or about 1.5 billion U.S. dollars.
Alibaba said total sales on TMall on November 11 reached a record of 168.2 billion yuan, or about 25.3 billion dollars.
"Double 11" is not only online in China, but is now cross-border and in brick-and-mortar stores.
"This year's "Double 11" not only embodies a big trend of consumption upgrade, but reflects the whole society's cooperation. It is a worldwide social synergy event. The synergy involves online and offline retail, and home and abroad as well." 
He added that over one million retailers worldwide have registered both online and offline stores to participate in the promotion.
According to Alibaba, as of 1 a.m. Saturday, transactions had been made in 201 countries and regions, including Japan, the United States, Australia, Germany and the Republic of Korea.
"Sales from 17 companies surpassed 500 million yuan,and 6 companies' sales exceeded 1 billion yuan in just 24 hours. It is amazing. Companies have entered a new historic stage with the integration of Internet."
Known as China's Singles' Day, November 11 has become an online shopping spree since 2009 when Alibaba's TMall made its first online sales promotion. 
The shopping day is becoming bigger in scale given, and other cross-border e-commerce platforms came to share the big on-line shopping cake.