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The company has already broken its own Singles’ Day mobile-GMV record with an astounding 84 per cent of transactions coming from mobile
Halfway through Single’s Day, Alibaba is on pace to outperform the sales record it set last year when it sold US$14.3 billion dollars worth of goods during its annual Singles’ Day sale. The company has already sold US$11.9 billion in GMV (total value of goods sold), according to Bloomberg.
If the company can maintain its current pace of US$1 billion in GMV per hour, it will break it’s own record a little after 2pm today, leaving plenty of time to set a new bar for next year.
While the sales record is impressive, the story is how overwhelming the transactions have come from mobile. According to Aliza, the official blog of Alibaba, 84.0 per cent of transactions have come from via mobile. At about 10:30 am today, the mobile GMV surpassed US$9.1 billion to break the mobile record from last year.
Also Read: Done deal: Alibaba-backed Lazada acquires online grocer RedMart
Additionally, 207 countries have participated in Single’s Day and the leading source of sales to China is the US.
#Double11 https://t.co/6EvDZ2TJrW http://pic.twitter.com/rZG0Uw2WyY
— Alibaba Group (@AlibabaGroup) November 11, 2016
Alibaba is not only targetting mobile users in China but outside of the country is well. It pointed to the millions of “upwardly mobile customers” and yet again stressed the importance of Southeast Asia for the company.
Aliza, the official blog for Alibaba, wrote the following at 12:54 pm today:
[Alibaba Group President Michael Evans] pointed to Alibaba’s investments in e-commerce company Lazada Group in Southeast Asia and online payments provider Paytm in India as signs of the company’s intent to make sure the above-mentioned consumers are shopping and transacting on its platform. The goal now, he said, was to continue expanding that consumer base.
For countries outside of China, Alibaba says GMV from Japan, New Zealand, Europe Australia and the US have all beat last year’s sales records.
Also Read: Paytm continues board revamp, appoints Alibaba exec as Additional Director
Alibaba’s stock has fallen 2 per cent today but the company is listed on the New York Stock Exchange, which has not yet woken up for the day’s trading.
e27 will update this article with updates throughout the day.
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