In 2018, Alibaba witnessed USD 30.8 billion sales during its Singles’ Day sales, while surpassing it, in 2019 the Chinese giant witnessed USD 31.82 billion sales.

The Chinese e-commerce giant, Alibaba was having Singles’ Day sales on Monday and it hits record USD 31.82 billion in sales, crossing its previous record of USD 30.8 billion in the last year.

In just 16 hours and 31 minutes of the event going live, the total gross merchandise value of Alibaba surpassed from its 2018 GMV and stood at USD 31.82 billion. In 2018, the GMV was USD 30.8 billion.

“This was 6 hours and 45 minutes faster than the time when the same record was achieved in 2018,”

the Chinese e-commerce company said.

It said that the sales on Monday jumped by 25% in the first 9 hours to $23 billion, which is almost two-thirds of Amazon’s online store sales in the latest quarter.

As per the records, the GVM in the first 1 minute and 8 seconds, settled through Alipay reached USD 1.0 billion and in the first 1 hour, the GMV settled through Alipay reached USD 12.0 billion, which was unexpected.

The event is also known as Double 11 because it is organized on 11th November, with the 4 ones of 11/11 signifying being single.

The 11/11 shopping festival started in the year 2009 in which just 27 merchants participated as an event for merchants and consumers were organized to raise awareness about the value of online shopping.

The event was graced by an amazing performance from the Grammy Award-winning singer-songwriter Taylor Swift and some of the other international and local celebrities.

The event welcomed more than 2 lakh brands from 78 countries and regions to participate this year and offered nearly one million new products to the customers.