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Tags: AS | China | Singles | Day

Chinese E-commerce Giants Report Booming Singles Day Sales

Chinese E-commerce Giants Report Booming Singles Day Sales

Monday, 11 November 2019 12:38 AM

BEIJING (AP) — Chinese e-commerce giant Alibaba says merchants on its platforms sold $12 billion worth of goods in the first hour of Singles Day, a marketing event that has grown into the world's biggest online shopping day.

Alibaba and rival JD.com reported a total of nearly $50 billion in sales by midmorning Monday.

The so-called 11/11 event began as a joke holiday in the 1990s as an alternative to Valentine's Day for people without romantic partners and was adopted by Alibaba a decade ago as a marketing tool.

Competitors including JD.com, Pinduoduo and Suning have joined in, offering discounts and special offers.

Alibaba said sales by merchants on its platforms reached $25.8 billion by midmorning. JD.com said its orders totaled $23.8 billion by 9 a.m.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Chinese e-commerce giant Alibaba says merchants on its platforms sold $12 billion worth of goods in the first hour of Singles Day, a marketing event that has grown into the world's biggest online shopping day.Alibaba and rival JD.com reported a total of nearly $50 billion...
AS,China,Singles,Day
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2019-38-11
Monday, 11 November 2019 12:38 AM
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