Amazon vs. Alibaba: Which Is Winning the E-Commerce Wars?

More than 70 per cent of orders were placed on mobile devices during Lazada’s Singles’ Day sales

For perspective, there were only 27 participating Chinese merchants when Singles Day was launched by Alibaba in 2009.

The event is so successful and popular because Alibaba is so strongly vertically integrated.

"168.2 billion yuan sales is not only a record in China, but also a record worldwide", said Alibaba chief executive Daniel Zhang Yong.

The shopping day also succeeds in bringing businesses of all sizes to the forefront through technology integration.

The total gross merchandise volume or the amount of sales transacted on Alibaba's platforms was almost four times the combined online sales of "Black Friday" and "Cyber Monday" in the US, Alibaba officials said. This figure represented a 39 percent rise from the figure recorded a year ago.

At the peak, Alibaba's own eWallet payment solution, Alipay, registered about 256,000 payments per second.

This figure was corroborated by ecommerce platform monitor Criteo, which said about 75 percent of transactions went through mobiles, with most of those in apps. For example, Alipay dealt with over a billion transactions and Cainao delivered 657 million packages in 24-hours on Singles Day.

In comparison, mobile shopping is anticipated to account for 34% of online purchase revenue in the 2017 holiday season in the U.S. This illustrates the major gap that still exists between mobile commerce in China and the rest of the world, particularly when it comes to the sophistication of mobile payments platforms.

In China, BABA offers unbelievable deals in an annual Singles Day that top analyst Youssef Squali at SunTrust believes "lived up to its hype", outclassing the tail-end of his 29% to 35% growth forecast. As an example of USA success, Nike ranked number five on the list of top-selling brands of all categories on Tmall for GMV, while Apple was the best-selling brand in the mobile phone category.

Alibaba, along with its founder Jack Ma, held a star-studded four-hour live gala broadcast before the official Singes' Day event kicked off.

If you hadn't heard, Saturday's Singles' Day sale in China absolutely smashed last year's already phenomenal record, bringing in $25 billion in a day on a single shopping site - Alibaba Taobao.

In home appliance sales, said that television sales reached 100 million in one minute, while sales of air conditioners reached 500 million yuan in a 30-minute period.

Cainiao, a logistics service in which Alibaba now has a majority stake, has partnered with airlines to book cargo flights to European countries following Singles' Day to shave days off of delivery dates.