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Alibaba has set new sales records on November 11 for its biggest shopping day, the annual Singles Day.

The Chinese internet giant hit a record $1 billion in sales in 85 seconds, and then just shy of $10 billion in the first hour of the 24-hour spree.

In total, customers spent $30.8 billion, up 27% on last year, but the lowest annual increase in the history of Singles Day.

Online discounts have been offered on 11.11, Alibaba’s informal holiday for singles, since 2009.

Singles Day 2016: Alibaba Announces Record $18BN Sales

Singles Day 2015: Alibaba Breaks Sales Record

Singles Day 2014: Alibaba sells $2 billion of goods in first hour of world’s biggest online retail sales day

Alibaba Group chief executive Daniel Zhang said the spending bonanza demonstrated “customers’ continued pursuit to upgrade their everyday lifestyles”.

Singles Day was kicked off on November 10 with a gala featuring Mariah Carey, a Japanese Beyoncé impersonator and a shoe-shopping-themed Cirque du Soleil performance.

Alibaba invented the sale event to celebrate the unattached as an antithesis to the romantically involved on Valentine’s Day.

According to Bloomberg, Singles Day is now the world’s biggest online sales event and this year’s total was more than Black Friday and Cyber Monday’s totals combined.

Some 180,000 brands are available in the shopping blitz, including top technology companies Xaomi, Apple and Dyson.

In 2017, Alibaba expanded the event to the Western market, with downloads of its app AliExpress surging in the US and UK.

The shopping frenzy has broken world records in e-commerce sales – surpassing last year’s record at 17:34 Hong Kong Time.

However, observers believe as the event matures, its growth rate will slow down.

This year Alibaba has also faced new challenges, such as new rivals in the market, a slowing economy and its stock dropping 16% thanks to China’s trade war with the US.

The November sale event is expected to be founder Jack Ma’s last at the helm of Alibaba. The current chief executive will take over as chairman in 2019, Alibaba announced in September.

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Alibaba has announced record sales record its annual Singles Day event.

The e-commerce giant said sales this year had reached 121 billion yuan ($18 billion), a rise of 32% on 2015 sales which were worth $14.3 billion.

However, some have questioned the accuracy of the numbers, amid claims of inflated sales data at Chinese online retailers.

Merchants passing off counterfeit goods as genuine is also a problem in the industry.

The company reported 82% of purchases had been made on mobile phones during Singles Day.Alibaba Singles Day 2015

Alibaba has also been experimenting with new technology including augmented reality and virtual reality to give shoppers other ways of buying items.

This year’s Singles Day had a blistering start with sales hitting $5 billion in the first hour, Alibaba said, though that total included pre-orders made by customers who could “lock in” prices. It took 90 minutes to hit that milestone in 2015.

Singles Day is held every year on November 11. The day is also referred to as Double Eleven because of its date.

Originally claimed as a celebration for China’s young singletons, Alibaba turned it into a shopping bonanza in 2009.

While Alibaba is undeniably the driving force behind Singles Day, other retailers have also started to piggyback off the idea, including extending the concept to Hong Kong and Taiwan.

Alibaba’s rival JD.com, which focuses more on electronics, reported receiving more orders in the first nine hours of trading on Friday than it had done during the whole of Singles Day 2014.

JD.com said sales passed last year’s Singles Day total in the early afternoon, but gave no figures.

As has now become tradition, Singles Day was kicked off with a televised gala event which this year included a performances by One Republic and appearances by basketball legend Kobe Bryant, soccer legend David Beckham and his wife Victoria Beckham.

Katy Perry, who had been scheduled to perform, withdrew citing a family emergency.

Analysts have predicted this year’s Singles Day could see Alibaba rack up sales of $20 billion despite a slowdown in China’s economy, partly due to the event having a broader audience.

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