$7bn of Mobile Purchases on Alibaba During Singles Day

Alibaba logo IRLAs Western retailers are anticipating the forthcoming Black Friday, Chinas own equivalent is already coming to a close. Held every 11 November, Singles Day – or the 11.11 Global Shopping Festival – is a force to be reckoned with.

Chinese eCommerce giant Alibaba has reported 63.6bn Chinese yen ($10bn, £6.6bn) of sales, just 14 hours into the day, breaking last years record of 57.1 yen in less than 12 hours.

Mobile has so far accounted for 70 per cent of sales, some 44.9bn yen or $7.1bn, with 70m shoppers making purchases from mobile devices.

In the same period, Alibaba Groups logistics affiliate Cainiao received 310m delivery orders, exceeding last years total of 278m.