Alibaba Singles' Day Racks Up $1 Billion in Sales in 2 Minutes

Hit Singles

China's Single Day - bigger than Black Friday and expected to smash $20bn

In fact, it's not even close.

Shiseido opened a popup store in Shanghai on Wednesday to exhibit its main offerings for this year's Singles Day. In 2016, Alibaba had $17.8 billion in sales on November 11, more than the $12.8 billion spent in the United States in the four days after Thanksgiving.

Many Japanese makers of consumer goods are positioning themselves to cash in on China's Singles Day, as the November 11 holiday for celebrating the single life has morphed into an online shopping extravaganza in recent years. "This is a huge increase from last year's figures which saw a collective spend of US$17.8 billion in 24 hours - more than the annual e-commerce sales of Brazil", James Hebbert, UK Managing Director from Hylink, a digital advertising agency, told the South China Morning Post. With more global brands participating in the holiday with deals, sales could be much higher than past year, according to Squali. It's not just an event for those in China anymore, Singles Day is global.

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Singles Day is a holiday in China, in which unmarried men and women celebrate their single lifestyle.

Combining the most recent Prime Day, Black Friday and Cyber Monday sales gives you only 43% of Alibaba's total sales during last year's Singles' Day. In the first hour of Singles Day past year, about 175,000 hours per second came in.

Other retailers will be trying to replicate Alibaba's success on Singles Day. In 2015, Alibaba Founder Jack Ma said that in 10 years, he envisioned having the ability to ship to consumers anywhere in the world within 72 hours.

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