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Alibaba and smashed Singles’ Day sales

Miguel A. Rodriguez
Miguel A. Rodriguez
12 November 2021
New records for e-commerce giants Alibaba and

Singles’ Day, which used to be a 24-hour flash sale, turned into a multi-day extravaganza, ending at midnight on November 11. While started sales in late October, Alibaba began in November. Following the event, both companies reported record sales despite worries about the strength of Chinese consumers and the impact of Beijing’s crackdown on tech companies, which gained traction in the past few months.


In the 11-day sales period, Alibaba gross merchandise volume (GMV - the total amount of sales made over a specified period) totaled $84.54 billion, more than an 8% surge from last year’s figures. Buyers from lower-tier cities and rural areas increased by almost 25%, representing a key focus for the company as it is looking to expand its user base.

The company revealed a GMV on its platform of $54.6 billion, a 28% increase from the 2020 numbers. reported a surge in the purchase of luxury items and pet-related goods. The transaction volume of iPhones surpassed 100 million yuan in a timeframe of 2 seconds after the final sales started on November 10. At the same time, users from lower-tier markets accounted for 77% of all shoppers.

During the Hong Kong trading hours on Friday, Alibaba stock price was down 1.8%, while added 4.6%.








Miguel A. Rodriguez
Miguel A. Rodriguez

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.