Alibaba says Singles' Day sales hit 91.2 billion yuan in first hour

Alibaba says Singles' Day sales hit 91.2 billion yuan in first hour

Workers sort global parcels at a cross-border e-commerce industrial park ahead of the Singles Day online shopping festival in Hefei, Anhui, province, China November 2, 2019.

China's Singles' Day sales on Alibaba's Tmall hit 10 billion yuan (about 1.43 billion USA dollars) just one minute and 36 seconds after midnight on Monday, 29 seconds faster than previous year.

This year's edition of Singles Day is being touted as the largest single day shopping event not only of the year and is expected to generate more sales than Black Friday, Cyber Monday and Thanksgiving Day combined, according to Adobe Analytics.

Alibaba's double 11 shopping festival's sales have been growing at a fast pace since it was born. Cleaning products company Ecostore sold $2.36 million worth of product on November 11, while Fonterra clocked $28m from sales of its Anchor dairy products and Anmum milk powder.

Alibiba's Singles Day isn't just an online shopping festival but also a high-on-glamour affair.

Alibaba now offers computing services with more than 1 million processors.

NZ Post is keeping an eye on the spending trends this online shopping season and will be reporting back to New Zealand on whether Kiwis are spending as much as we predict in the 2020 Full Download report. He said Singles' Day kicked off the busy period for the state-owned enterprise.

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"We have seen Black Friday rapidly emerge into the New Zealand consciousness over the last few years, primarily because New Zealand consumers were visiting overseas websites and Kiwi retailers responded to that in order to keep customers and win business", Harford said.

Alibaba celebrates Singles Day as a day for those who are not in romantic relationships to pamper themselves by shopping online.

This year's Thanksgiving weekend will likely bring about another record in US e-commerce history, but it won't come close to matching China's largest shopping extravaganza. Previous year we delivered over 14.5 million parcels during November and December.

This time past year, NZ Post was delivering an average of nearly three parcels a second.

About 1.8 million Kiwis shopped online previous year, spending a total of $4.2 billion, with a significant portion of this spending requiring items to be delivered.

NZ Post delivered more than 78 million parcels previous year.

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