Thursday, 12 November 2015

Shoppers spent $14.3bn on Alibaba on Singles Day 2015

"China’s online shopping holiday “Singles’ Day” broke all previous records when it wrapped up at midnight last night (Nov. 11) in Beijing—Chinese shoppers bought $14.3 billion of merchandise through e-commerce giant Alibaba alone, and that figure doesn’t include billions more on competing websites.
That $14.3 billion figure blew through expectations, and beat last year’s number by 60%:
[This] shows the raw power of China’s consumers, who purchased over $450 billion in merchandise online in all of 2014, a figure expected to more than double to over $1 trillion by 2018."
Source:  Quartz, 12th November 2015

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