Alibaba Group reaped $14.3 billion in sales during Singles’ Day, a 54 percent increase from last year’s tally of $9.3 billion. The most significant number from yesterday’s annual shopping bonanza, however, is not how much Chinese consumers spent, but what devices they used to make purchases from Alibaba’s marketplaces.
According to the company, which runs China’s largest e-commerce marketplaces, more than half, or 69 percent, of gross merchandise volume (or total sales) were made on mobile devices like smartphones, compared to 42.6 percent last year.
Its mobile business’ strong growth is an important coup for Alibaba because the company has invested heavily in mobile, at times sacrificing revenue in order to improve monetization rates. Back in January, after Alibaba