Headlines

China’s Singles’ Day Sales Reach $25.4B

The event’s sales mark a worldwide single-day retail record

Published

6 years ago

November 13, 2017

kmpeyton

Saturday, Nov. 11, was China’s annual Singles’ Day, an informal holiday that originated in the ’90s to celebrate being single. Now, largely associated with online marketplace Alibaba (Hangzhou, China), it’s an annual discount-shopping holiday.

Within the first two minutes of the discounts, which began at midnight Saturday morning local time, the e-commerce site hit $1 billion in sales; and in just over 13 hours, sales climbed past $18 billion.

The sales promotion ended with a total of $25.4 billion in sales, 40 percent higher than its 2016 record-setting $17.8 billion, reports CNN Money.

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