China’s ‘Singles Day’ sales event saw record-breaking earnings due to the iPhone and luxury goods.
In September 2021, Chinese retail websites were overwhelmed with iPhone 13 preorders putting an enormous strain on the platform. An estimated total 5 million units were pre ordered, and JD.com had about 3 million of them.
Then, during the ‘Singles Day’ which was November 11, Alibaba and JD garnered around $139B in sales, with JD taking a $54.6B share. Other than the iPhone 13, the retailer saw an increase in pet-related products and luxury items.
For the iPhone 13 sales, JD.com said that it only took two seconds for them to reach $15.64 million of iPhone sales when the event was launched. The breakdown of how many iPhone 13s that sold per model was not disclosed.
China’s ‘Singles Day’ is also referred to as the ‘Double 11’ due to being held on November 11, or ‘11/11’.