Ali’s Singles’ Day sales top $38 billion

After 24 hours of frenzied buying and selling, and weeks of aggressive advertising and promotions before it, the Alibaba Group said today its sales hit another record high on Singles’ Day, the biggest shopping day on the planet.

The Chinese e-commerce giant said its platforms sold goods worth 2684 billion yuan, or $38.4 billion today, easily exceeding last year’s record $30.7 billion haul. Electronics gadgets and fashion items were among the most sold goods in the 11th edition of the Singles’ Day annual event, company executives said in an interview.

The shopping glitz hosted a number of celebrities, including Taylor Swift and Asian pop icon GEM, to generate buzz. This year, the Hangzhou-headquartered firm also focused on live-streaming via its platform, a phenomenon that has gained significant traction in China.

In a live-streamed video, Kim Kardashian announced last week that her fragrance brand KKW will be sold on Tmall this Singles’ Day.

Singles’ Day event falls on November 11 every year and is also known as “double 11.” The event is dedicated to people who are not in a relationship.