Chinese e-commerce giant Alibaba filled a record $30.7 billion in orders on Sunday during its annual 'Singles Day' shopping frenzy, but growth slowed from previous years.
Alibaba Group hit $30.7 billion in sales for its annual Singles' Day shopping extravaganza.
The spending binge has for years eclipsed Cyber Monday in the U.S. for online purchases made on a single day.
Chinese e-commerce giant Alibaba Group Holding Ltd smashed the 2017 record for its Singles’ Day sales event on Sunday, surpassing $24.15 billion sales in under
Chinese e-commerce giant Alibaba Group Holding smashed the 2017 record for its Singles’ Day sales event on Sunday, surpassing 168 billion yuan ($24.15 billion) sales in under 16 hours. Singles’ Day, also called “Double 11,” is the world’s biggest online sales event, outstripping US shopping holiday Black Friday.
Alibaba's Singles Day has become a shopping festival that stops the nation, and this year's event was no exception.
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.
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 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.