On November 12, Alibaba announced that it generated a record 168.2 billion rmb ($25.3 billion) in sales on Singles’ Day, an increase of 39 percent compared to 2016, which made Singles’ Day (11 11) the world's largest shopping event.
JD, a competitor of Alibaba recorded total sales volume of 127.1 billion rmb representing 50% growth compared with the previous year.
Among all the 253.97 billion rmb online sales volume, mobile purchases accounted for 91% and overseas purchase 21.9%.
Chart 1: Mothercare product online sales in 2017 China Singles’ Day Event
Chart 2 : Infant formula online sales in 2017 China Singles’ Day Event
Chart 3: Liquid milk online sales in 2017 China Singles’ Day Event
Chart 4: Water & drinks online sales in 2017 China Singles’ Day Event
It’s noteworthy that on Singles’ Day CCTV released an annual development report of E-commerce in China, which revealed that growth was 34.2% with a total sales of 4.88 trillion rmb from Jan to Sep 2017 compared with 26.2% in 2016. Growth of ecommerce purchases in rural China has also been strong. Online sales in rural areas was 836.14 billion rmb with a 38.3% growth from Jan. to Sep. 2017.
With the consumption and technology upgrade, China has the largest E-commerce sector in the world, accounting for 40% of global sales in 2016.
Chart 5: 2016 Global Online Retail Sales
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