Alibaba Singles' Day sales up 40% YOY while follows closely

Alibaba ($BABA) reported sales from Singles' Day to be $25.3 billion, which is a 40% increase from last year's figure and more than estimate of $24 billion by Citigroup. ($JD) also revealed its Singles' Day sales figure the first time. The figure US$19.14 billion demonstrated that is a serious challenger to Alibaba.

US sales between Thanksgiving (Nov 24) until Cyber Monday (Nov 28) amounted for $12.8 billion in 2016. The one day sales from just Alibaba's platform, not even counting figures from and other smaller eCommerce players, is already more than double of the four days sales in US.

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