China's 2015 Singles Day is Bigger Than Black Friday
Alibaba Group Holding reported blockbuster sales for Singles’ Day, further highlighting the resilience of the Chinese consumer despite a flagging economy.
The Chinese e-commerce giant said that by the end of Wednesday, sales on its platforms for China’s Singles’ Day hit 91.2 billion yuan ($14.3 billion). Earlier in the day, Alibaba exceeded last year’s 24-hour total of $9.3 billion in just over half the time.
The total transactions recorded-measured by gross merchandise value, or GMV-exceeded analysts’ expectations that the total GMV for the day would be some $13 billion.
For more information: foxbusiness.com