More than 200,000 brands are participating, offering deep discounts to a projected 500,000 million shoppers.
Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles' Day shopping blitz hit 91.2 billion yuan ($13 billion) within the first hour, up 32% from last year's early haul of 69 billion yuan.
Singles' Day, or 11.11 as it is commonly known as in China, celebrated on the 11th day of the 11th month of the year, is considered to be the biggest shopping day of the year, surpassing the commercial success of Black Friday and Cyber Monday. Last year, total Cyber Monday e-commerce sales in the United States amounted to $6 billion with Thanksgiving and Black Friday adding another $8.2 billion for a weekend total of $14.2 billion.
On the Alibaba platform, the preferred merchandise on Singles' Day are garments and day by day requirements, akin to skincare, well being and child merchandise. Back in 2009, the sales from the double 11 shopping festival were merely 0.1 billion yuan.
Alibiba's Singles Day isn't just an online shopping festival but also a high-on-glamour affair. Though the premise of the event is a celebration of single people, it's become much larger over the last decade.
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The whopping sales generated on this day has over the years lured an increasing number of US retailers, who have been struggling in their own territory with slowing sales in the last couple of years.
Online shopping grew by 16 per cent in 2018 - eight times faster than in-store shopping.
Moreover, American and European brands have a huge demand in China that has seen many big brands opening shop in that country.
More than 22,000 worldwide brands from over 78 countries and regions will participate in this year's 11.11 on Tmall Global, Alibaba's dedicated channel for cross-border e-commerce.
According to Adobe Analytics, around 24% US retailers are likely to run promotions on this year's Singles Day.