China’s Singles’ Day sales on Alibaba’s Tmall hit 10 billion yuan (about 1.43 billion U.S. dollars) just one minute and 36 seconds after midnight on Monday, 29 seconds faster than last year.
The sales reached 50 billion yuan in 12 minutes 49 seconds, last year it took 26 minutes and three seconds.
Chinese e-commerce giant Alibaba launched the annual online shopping promotion on November 11, 2009, a day celebrated by many young Chinese people as the Singles’ Day.
Alibaba’s double 11 shopping festival’s sales have been growing at a fast pace since it was born. Back in 2009, the sales from the double 11 shopping festival were merely 0.1 billion yuan. After years of steep growth, last year, the number reached 213.5 billion yuan.
According to statistics from the internet retailer, Alibaba’s double 11 shopping festival is the largest shopping event in terms of the sales number, averaged at 30.8 billion yuan. It ranks first globally, with Cyber Monday from the U.S. coming in second place with an average sales number of 7.75 billion yuan.