Although the company has not disclosed the precise sales revenue for the specified period, it is noteworthy that 45 renowned brands, including Apple, Haier, Midea, and Xiaomi, each surpassed 1 billion yuan ($138.62 million) in gross merchandise value (GMV), a widely recognized metric employed to assess online sales performance.
JD.com, the second-largest e-commerce player in China, refrained from sharing specific sales figures but indicated a year-over-year increase of over 20% in the number of shoppers participating in the event.
Last year's sales period saw a 2.08% increase in sales across major e-commerce platforms, reaching 1.14 trillion yuan, according to data from Syntun. Estimates for this year's festival have yet to be published.
Initially a 24-hour online shopping event celebrated on November 11, Singles' Day has evolved into a weeks-long promotional period across major e-commerce platforms and physical retail stores in China. This year's festival, which began on October 14, marks the longest iteration to date.
Sales growth expectations for the festival, often seen as an indicator of consumer confidence, were tempered this year due to ongoing concerns about the second-largest economy's stability, following a prolonged property market downturn and broader economic challenges.
A survey by Bain & Company conducted prior to the Singles' Day event revealed that approximately 75% of respondents planned to spend the same amount or less on promotions in 2024.
In recent years, major Chinese e-commerce platforms have adopted a more subdued approach to announcing their Singles' Day results, moving away from the extravagant celebrity-led gala events of the past, and have not released total GMV figures since 2022.
This year, the market for larger household appliances has outperformed last year, largely due to a national trade-in subsidy program worth 150 billion yuan that was introduced in July to stimulate consumer spending.
JD.com reports that transactions across 519 categories of home and appliances surged by 200% compared to the previous year, with top-selling items including energy-efficient air conditioners, robotic vacuum cleaners, and smart toilets.
Additionally, the collectible toys and hobbies sector has experienced unexpected growth, particularly in products related to anime, comics, and gaming, which are especially popular among young consumers in China.
Data from Alibaba indicates that designer and collectible toy brands such as MiHoYo, Pop Mart, Paperpresented, and Jellycat have each exceeded 100 million yuan in gross merchandise value.
Shan Yin, a 23-year-old student from Hangzhou, spent 3,200 yuan on gaming products linked to titles like 'League of Legends' and collectibles from the 'Noragami' and 'Banana Fish' anime series. She notes that these items help her manage the stress associated with her engineering studies.
"Engaging in cosplay and purchasing this merchandise allows me to better regulate my emotions," she explained.