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The Chinese site Alibaba leads world’s biggest online shopping spree

The Chinese site Alibaba leads world’s biggest online shopping spree

Alibaba and other Chinese e-commerce companies hosted the world’s biggest one-day shopping spree Wednesday on 11/11/15, capitalizing on an annual event
dubbed  “Singles Day.”  Analysts estimated this year’s Singles Day could bring in as much as $11 billion in sales. Alibaba Group Holdings Ltd , reported a blockbuster
$14.3 billion in sales during China’s Singles’ Day online shopping festival Wednesday, further highlighting the resilience of the Chinese consumer despite a flagging economy.

 

For more about China’s Singles’ Day online shopping festival:
http://www.usatoday.com/story/tech/2015/11/10/singles-day-china-1111-sale-alibaba/75511104/

http://www.bbc.com/news/business-34773940

 

 

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