Alibaba, an ecommerce company, has registered sales worth USD 2 billion in the first hour of Singles’ Day in 2014, the secondary market research agency yStats reveals.

Moreover, the ecommerce company’s sales reached USD 9.3 billion during the whole Singles’ Day, and the total orders were 278 million, as compared to 150 million in 2013. China’s Singles’ Day 2014 sales surpassed the sales of 2013 Black Friday and Cyber Monday in the US combined.

Singles Day, or Double Eleven day, has already become the world’s biggest shopping day.
The tradition of online shopping promotions on the Singles’ Day in China was initiated by Alibaba in 2009 to promote its retail marketplace Tmall.

AliExpress’s major market, Russia, is offered free delivery on 70% of goods. On the other hand, global merchants use the shopping festival to entice China’s 360 million online shoppers.

Find out more: http://www.thepaypers.com/ecommerce/alibaba-sales-reach-usd-2-bln-after-one-hour-in-china-s-singles-day/757332-25