The day began innocently enough in 1993 at Nanjing University as a day to revel in singledom, according to Forbes; Alibaba's online shopping festival for the event began in 2009 as a self-affirming excuse to buy a lot online with the knowledge you're sticking it in the face of the retailers who cater to couples on Valentine's Day, but now it's become the showground for Alibaba's blossoming rivalry with Amazon.
More than 90 percent of orders were placed via mobile, the majority of which on Alibaba's main e-commerce platform Taobao.com (淘寶).
Alibaba rivals such as JD.com also reported brisk business. Adjusted earnings should rise 233% to 10 cents a share while revenue swells 36% to $12.25 billion.
Alibaba said that five minutes after midnight Alipay was processing 2,56,000 payment transactions per second, doubling last year's high-water mark.
E-commerce's huge growth in China has put New York-listed Alibaba neck-and-neck with Amazon.com Inc as the world's most valuable e-commerce company, while also making NASDAQ-listed JD.com a Fortune 500 company.
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But environmentalists complain of ecological harm, accusing Alibaba and other e-commerce companies of fuelling a culture of excessive over-consumption and mountains of waste. Last year, there were 98,000. The first purchase during Singles Day this year was delivered less than 13 minutes after midnight.
This loneliest of dates (one-one-one-one), which meant to resemble four solitary sticks, is when China celebrates its Singles' Day.
It is a reminder for Malaysians of the recently-launched Digital Free Trade Zone (DFTZ) in Sepang, Selangor, one that is touted to achieve similar success to Alibaba and 11.11, but with Malaysian small-medium enterprises (SMEs).
Currently, global purchasers are able to join the festival in China through its delivery arm Aliexpress that enables shoppers around the world to purchase goods from Chinese online merchants.
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