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Singles' Day could break records again (BABA)

Published by Business Insider on Thu, 29 Sep 2016

This story was delivered to BI Intelligence "E-Commerce Briefing" subscribers. To learn more and subscribe, please click here.Ant Financial, the Alibaba-affiliated owner of payment platform Alipay, expects that this year's Singles' DayChina's biggest online shopping day of the year hosted by Alibabawill break records and generate even more sales than in 2015, according toBloomberg.Singles Day reached insane heights last year.The service saw $14.3 billion in sales on Alibaba alone in 2015, much of which flowed through Alipay.Since then, Alipay has continued to grow.Alipay currently counts 450 million monthly active users. As mobile payment usage in China rises, its likely that Alipays user base is increasing as well. This provides Ant with a larger audience to target on Singles Day.The growing prevalence of mobile could be a boon to Singles' Day results.Seventy-five percent of Alibaba's gross merchandise volume (GMV) now derives from mobile, up from 68% in Q4 2015, when last year's Singles' Day occurred. And the retail giant's mobile GMV stood at $94.3 billion in Q2 2016, up 69% year-over-year (YoY). Mobile GMV has been driven in part byincreasing conversion rates. Therefore, Alibaba could see higher sales on Singles' Day than last year because of higher conversion rates on mobile devices. In addition, mobile arguably has greater potential to drive repeat purchases within a single day compared to desktop, given that users are rather tethered to their phones. To receive stories like this one directly to your inbox every morning, sign up for the E-Commerce Briefing newsletter.Click here to learn more about how you can gain risk-free access today.Join the conversation about this story
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