Zalora, an Asian ecommerce company Zalora anticipates record-breaking sales for Singles Day this year due to economic openings and greater tech adoption in the region.

CNBC the world’s biggest shopping event kicked offGunjan Soni, Zalora Group CEO, said that she expects Thursday’s activity will surpass last year’s. $100 million in salesWithin the hour.

Singles Day is an event that takes place online on November 11. It’s similar to Cyber Monday and Black Friday. This online shopping event originated in China, and it is very popular all over Asia.

Soni said that “we are experiencing a lot excitement” and she expects us to set a number of records. “Street Signs.”

According to the fashion retailer, it expected pandemic-winning categories like beauty, athleisure and children to perform well in 2018. An example of a clothing style that mixes athletic wear with casual wear is called athleisure.

But Zalora also anticipates other previously hard-hit segments — like womenswear and occasion wear — to make a comeback.

Soni stated that the good news is, we are starting to notice a rise in women’s occasion wear and apparel, with a particular spike expected for holiday gearing.

Singles Day has become a significant event in Southeast Asia for many retailers. Intra-day statistics released Thursday showed that Lazada is a Southeast Asia-based ecommerce website. It’s owned by China’s ecommerce giant. AlibabaAccording to a report, it only took nine minutes for sales of $11 million or more to reach that level.

The move comes as Southeast Asia makes leaps in technology adoption. This is partly due to coronavirus lockdowns. Soni stated that even though regional economies are making progress to reopen to different degrees, she believes the demand for online commerce will continue to grow.

She stated that “we are extremely bullish on vertical across fashion and beauty as well lifestyle, if it takes the next three or five years.”

Six of the six biggest economies in Southeast Asia are currently home to 440 million internet usersAccording to Wednesday’s new report, 40% of these people came online this year for the first-time. Google, Temasek Holdings and Bain & Company. Out of the total 440,000,000, at least 80% made an online purchase.