Chinese retailers post record sales in 11-day shopping event

ANKARA

Chinese e-commerce companies Alibaba Group and JD.com announced record sales Thursday during an 11-day shopping event.

Alibaba said it generated 540.3 billion yuan ($84.5 billion) during the Singles Day event.

Its 11.11 Global Shopping Festival, which started in 2009, saw 78 brands surpassing 100 million yuan in gross merchandise in 2021.

A record 290,000 brands participated in the event this year, with 65% being small- and medium-sized businesses.

JD.com said it recorded 349.1 billion yuan ($54.6 billion) during Singles Day that started on Oct. 31.

Transaction volume for 31 brands surpassed 1 billion yuan, while Apple sales climbed above 10 billion yuan, it said in a statement.

The company saw total transaction volume increase 28.6% from last year when its sales volume stood at 271.5 billion yuan.

Singles Day, formerly known as Bachelors Day, was originated as a Chinese shopping season for people who are not in relationships.

The Nov. 11, or 11.11 date was preferred for its numerals, which is an internet slang in China for unmarried men.

It has grown into the largest physical retail and online shopping event in the world.