A new shopping craze has taken Chinese markets by storm. “Singles Day” on November 11th, is a sort of anti-valentine's day shopping celebration.
Alibaba, China’s largest online commerce company, reported a record setting 25 billion in sales this year. At peak, consumers were making 256,000 transactions per second and outselling Black Friday and Cyber Monday combined.
“We want to make Singles Day a more global event,” said Alibaba CEO Daniel Zhang. “We could take the gala overseas very soon.”
You can read more here...
https://www.bloomberg.com/news/articles/2017-11-12/alibaba-singles-day-goes-global-with-record-25-billion-in-sales
Alibaba, China’s largest online commerce company, reported a record setting 25 billion in sales this year. At peak, consumers were making 256,000 transactions per second and outselling Black Friday and Cyber Monday combined.
“We want to make Singles Day a more global event,” said Alibaba CEO Daniel Zhang. “We could take the gala overseas very soon.”
You can read more here...
https://www.bloomberg.com/news/articles/2017-11-12/alibaba-singles-day-goes-global-with-record-25-billion-in-sales
