Alibaba Group Holding Ltd. has broken its own previous records by logging over $9 billion in the first 12 hours of China’s Singles’ Day sales.
The Chinese e-commerce giant has matched the 2014 Singles’ Day figure of $9.3 billion just after midday Wednesday.
Alibaba’s Singles’ Day sales hit new high year after year
The Chinese e-commerce giant, which six years ago turned November 11 into China’s equivalent of U.S. shopping event Cyber Monday, said today that its 2015 sales have eclipsed last year’s final results in a little over half the time.
According to research firm IDC, this year’s sales could rise to as much as $13.8 billion, a growth of almost 50% from last year’s total.
As outlined by...
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