Alibaba chalked up a record $17.79 billion (120.7 billion yuan) in gross merchandise volume (GMV) on Singles Day’, an increase of 32% year-on-year. Growth rate was lower than the 60% experienced in 2015.
In the first five minutes, the Chinese ecommerce giant processed $1 billion on its mobile payment platform, Alipay.
Across Alibaba’s ecommerce platforms, mainly Tmall.com and Taobao Marketplace, some 1.04 billion payment transactions were processed, compared to last year’s 710 million.
The Chinese vendor also revealed that cross-border transactions came from 235 countries, with Japan, the US, and South Korea among the top three countries selling to China consumers. International brands that participated in Singles Day sales included Nike, Phillips, Uniqlo, and Adidas.