Chinese e-commerce giants Alibaba and JD.com achieved sales of nearly $ 115 billion across their platforms during Singles’ Day.
The record sales figure comes as Singles’ Day has been extended, through midnight on November 12th.
Alibaba said the total value of goods sold over the 11 days via shopping platforms totaled 498.2 billion yuan – or $ 74.1 billion. This figure has nearly doubled from last year’s 268.4 billion yuan.
Meanwhile, JD.com’s transactions during the same period amounted to 271.5 billion yuan (40.97 billion dollars), more than 204.4 billion yuan recorded in 2019, according to a report seen by Al-Arabiya Net.
Hong Kong-listed Alibaba shares rose 3% on Thursday, while Hong Kong-listed JD.com shares rose more than 7%, showing signs of recovery.
Alvin Liu, president of Tramal Import and Export Company, told CNBC last week that Chinese shoppers are expected to buy more foreign products through the two platforms, who usually travel abroad to buy those products, due to travel restrictions.
Alibaba said that 250,000 brands participated in the Singles’ Day event this year, including 31,000 brands from abroad. Alibaba said the United States was the first country to be sold to China by GMV.
Michael Evans, president of Alibaba, said more than $ 5 billion of the company’s total sales during Singles’ Day came from US goods via GMV.
– .
