Alibaba Singles' Day sales hit $12 billion in first hour
Monday, 11 November 2019 Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles' Day shopping blitz hit 84 billion yuan ($12 billion) within the first hour, up 22% from last year's early haul of 69 billion yuan. Akin to Black Friday and Cyber Monday in the United States, Singles' Day has been promoted as a shopping fest by Alibaba Chairman and CEO Daniel Zhang since 2009, growing rapidly to become the world's biggest online sales
In China, Singles' Day is akin to Black Friday and Cyber Monday in the US. Also known as “Double Eleven”, the festival’s name originates from the calendar date 11/11, with the four ones referencing being single. Alibaba Group Holding Inc said on Monday that sales for its annual shopping blitz...
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