Alibaba, the Chinese e-commerce giant, reported more than USD 38bn (PLN 148bn) in sales on this year’s Singles’ Day. During the first hour alone, sales via the platform amounted to USD 13bn or about PLN 50bn, i.e. the value of the entire Polish e-commerce market in 2018 according to PMR estimates.
Alibaba Singles’ Day sales hit new record
Alibaba, the Chinese e-commerce giant, set a new Singles’ Day record on 11 November. Sales via the platform surpassed USD 38bn (PLN 148bn), increasing by 26% compared to 2018 (USD 31bn).
During the first hour of this year’s Singles’ Day alone, sales on Alibaba amounted to USD 13bn, or about PLN 50bn – the value of the entire Polish e-commerce market in 2018 according to PMR’s calculations.
Although our projections for the Polish market are optimistic – online retail sales in Poland are projected to grow at double-digit rates in each of the next two years – even in 2024 its value will be nowhere near what Alibaba generated on Singles’ Day 2019.
Black Friday and Cyber Monday coming up
Singles’ Day is a popular event in China. In two weeks from now, two shopping events of global reach will take place – Black Friday on 29 November, and Cyber Monday on 2 December. As we reported last month, a recent PMR survey found that less than a third of Poles take advantage of Black Friday or Cyber Monday offers. The study was conducted between 27 August and 12 September 2019 and interviewed a representative sample of 594 Poles using the computer assisted telephone interviewing (CATI) method.
More information on e-commerce market in Poland in PMR report: Online retail market in Poland 2019. E-commerce market analysis and development forecast for 2019-2024.