Singles' Day sales soar to new records

Alibaba's Singles' Day Goes Global With Record $25 Billion in Sales

The retail event is now almost four times larger than Black Friday and Cyber Monday, the two biggest shopping days in the US.

Audio will be available later today. Alibaba this year has partnered with shopping malls and has set up pop-up stores that let consumers learn about products and buy them in the app. Alibaba CEO Daniel Zhang said the company's goal is to help shop owners go digital, not necessarily replace their physical stores entirely, Yahoo! The U.S. Securities and Exchange Commission launched a probe into Alibaba's accounting practices in 2016, including into its Singles' Day data.

China's second biggest e-commerce company, JD.com, reported an unexpected profit in the third quarter, though it lost about 100 merchants to fierce competition in the run-up to this month's Singles' Day shopping extravaganza. Alibaba recorded over $25 billion in revenue during the event's peak on Saturday.

Ninety percent of transactions took place via the company's Alipay payment solution, up from 82 percent a year ago.

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LaRue said she eventually bolted out of the house, and later called her agent, who she claims was in on what happened. She says he told her there is "off-camera nudity", which didn't make sense to her, and asked her to lower her dress.

JD (JD.O) posted net earnings of 1 billion yuan ($151 million), its highest ever quarterly profit, in the three months to September 30, far above an analyst consensus forecast of a 213 million yuan loss.

TV shopping operator Eastern Home Shopping & Leisure Co Ltd (EHS, 東森購物) said its sales on Saturday increased by 80 percent compared with the same day a year ago and represented a quadruple jump over its daily sales.

13 hours - the time it took Alibaba to surpass its last year's 18.1 billion sales record, as reported by the "South China Morning Post". Singles Day also heavily used streamed video as a marketing and promotional tool and live streaming video is becoming ever more central to its marketing strategies. China has 731 million internet users, up 6 per cent from 2016, according to government statistics.

Shoppers in Singapore, Malaysia, Thailand, Indonesia, the Philippines and Vietnam ordered 6.5 million items, 191 per cent or almost double that of previous year, Lazada said in a media release on Monday (Nov 13). For example, Alipay dealt with over a billion transactions and Cainao delivered 657 million packages in 24-hours on Singles Day.

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