Chinese consumers collectively spent over US$10 billion in under 30 minutes at Alibaba’s 11.11 Singles’ Day shopping event earlier today.
Alibaba’s Singles’ Day shopping festival, which falls November 11 every year, is the world’s largest shopping festival, where users are able to get significant discounts on a huge number of items across all of Alibaba's platforms.
Last year, total sales for the singles day event amounted to US$30.8 billion.
This year, Hong Kong, the US, the UK, Australia, and Japan were among the top spenders when the event kicked off.
At the event's open, the top 5 consumer regions in mainland China were Guangdong, Zhejiang, Jiangsu, Shanghai and Shandong.
Apart from Alibaba, competitors like JD.com and Pinduoduo have also launched their very own Singles’ Day campaigns, enticing buyers to spend on their platforms as well.