Chinese online shoppers shatter record, as Alibaba sales hit $45.6 billion in a single day
Singles Day sales sent shoppers into a frenzy.
Singles Day sales sent shoppers into a frenzy.
Event dwarfs
Alibaba Group hit $30.7 billion in sales for its annual Singles' Day shopping extravaganza.
Chinese shoppers have spent more than $30 billion online during the annual shopping binge, breaking last year's record. The massive spending comes despite an ongoing trade war with the US.
The spending binge has for years eclipsed Cyber Monday in the U.S. for online purchases made on a single day.
China's version of Cyber Monday was co-opted by e-commerce giant Alibaba, which has turned an unofficial holiday for people without romantic partners into a yearly windfall for digital retailers
The e-commerce behemoth clocked in sales of $30.8 billion in the 24-hour span that began at 12 a.m. Sunday, with consumers snapping up bargains despite China’s slowing economic growth.
Shoppers in China and across the world snapped up hot items starting pre-dawn, with Alibaba recording roughly $10 billion in sales in the first hour after midnight.
The 10th annual Chinese shopping bonanza Singles’ Day has generated a record $30.
Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan ($30.70 billion) in sales on Sunday during its 24-hour online retail frenzy Singles' Day, but the event's annual growth dropped to its slowest-ever rate.
Chinese e-commerce giant Alibaba Group Holding Ltd cashed a record 213.5 billion yuan (23.8 billion pounds) in sales on Sunday during its 24-hour online retail frenzy Singles' Day, but the event's annual growth dropped to its slowest-ever rate. Shoppers in China and across the world snapped