• Alibaba Singles' Day 2018 GMV Tops $5.3Bn in 12 Minutes

    11 days ago - By WWD

    SHANGHAI-Alibaba's Singles' Day got off to yet another explosive start, racking up over a total gross merchandise value of 10 billion renminbi, or $1.4 billion, in the first 2 minutes and 5 seconds of sales. By 12 minutes past midnight, total GMV already exceeded 36.2 billion renminbi, or $5.3 billion, surpassing the total it saw for 2013's Singles' Day. After an hour and 16 minutes, that ballooned further to 91.2 billion renminbi, or $13.1 billion, surpassing the total GMV in 2015.
    The tenth anniversary of the world's biggest shopping festival was celebrated in typical Alibaba fashion-an...
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