Alibaba smashed its Singles' Day shopping record on Friday by clocking growth of more than 32 percent, the Chinese e-commerce giant said on Friday.
Retailers on Alibaba's platforms had recorded $17.8 billion worth of gross merchandise volume (GMV). In 2015, the 24-hour e-commerce sales event racked up $14.3 billion GMV in total.
"Back in 2013, $5.14 billion was our one-day GMV. Now we can achieve it in one hour," Alibaba Group CEO Daniel Zhang told the company's live blog earlier in the day, adding that in the first hour of Singles' Day, orders were coming in 175,000 per second.
Media reports had forecast GMV from Alibaba's 11.11 Global Shopping Festival, as Singles' Day is officially called, to come at $20 billion in 2016, easily eclipsing the $2.74 billion and $3.07 billion respectively generated online during the Black Friday and Cyber Monday sales in the U.S. this year.