Single's Day trends: $25bn spent in one day

Basically everyone's phone on Saturday

Basically everyone's phone

While that's only half the growth rate past year, the event still dwarfs others such as Black Friday and Cyber Monday.

Audio will be available later today.

Alibaba announced over the weekend that Singles Day sales had ballooned by 42 percent - or $25.4 billion - when compared to the previous year. The online shopper bought 168 billion yuan (22 billion euro) worth of products, thanks to Alibaba's discounts.

The top countries selling in China throughout Singles Day include Japan, the U.S., Australia, Germany and South Korea.

In October, JD and Tencent expanded their partnership with the launch of the JD-Tencent Retail Marketing Solution, a move that will help the company better compete with Alibaba Group Holding Ltd, the largest e-commerce company in China. Chief Executive Officer Daniel Zhang said the company wants to make the event more global, and is planning to take its gala overseas soon, without giving a time frame.

Squali notes, "Strong Chinese consumer buying, 4x growth in global brands, strength in cross border trade, rise of New Retail and ubiquity of mobile drove this outsized performance, and bode well for the company's December quarter". Meanwhile, JD.com, the country's second biggest e-tailer, reported about 20 billion dollars of orders.

Everything about Singles Day is noteworthy, from the sales volume to the number of transactions that get processed on mobile payment platforms. It has been a day when the sales of Alibaba are on peak. "The Singles' Day Gala combined entertainment, shopping and interactive involvement and that is why it is such a unique success".

China has 750 million internet users, and 95% of them used a mobile device to access the internet in 2016, according to China's state-owned news agency Xinhua.

More than 40% of the brands taking part this year came from outside China, according to eMarketer.

Last week during a visit to China by U.S. President Donald Trump, JD said it would buy $2 billion in U.S. goods, including $1.2 billion in beef, over the next three years. Sales of 157 merchants exceed 100 million yuan; 17 merchants exceed 500 million; 5 merchants exceed 1 billion yuan. In total, almost 1.5 billion transactions were registered and about 800 million packages will arrive at the customers' doorstep in the next few days and weeks.

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