Although retail sales in China have been steady, the outlook is uncertain as the economy slows and concerns rise over the impact of the trade war with the United States
Alibaba’s annual Singles’ Day event notched $30.7 billion in merchandise sales, an increase of 27%, according to a tally posted at the event’s media centre in Shanghai
Alibaba reported that Xiaomi, Apple and Dyson products were the top three brands in early sales during Singles’ Day in China
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.
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.