Chinese e-commerce giant Alibaba announced early Monday that it set another sales record on its Nov. 11 Singles Day promotion, the world's biggest shopping holiday of the year. Alibaba said it sold $30.8 billion worth of goods, easily beating last year's $25.3 billion Singles Day total.
Singles Day sales have grown in recent years to exceed those racked up in the U.S. during the whole of Thanksgiving week, Yahoo Finance reports. Despite the big number, Singles Day sales growth slowed in its 10th year, falling to 27 percent from 39 percent in 2017. Shoppers ordered more than 1 billion packages from 180,000 brands on Alibaba and its affiliated services.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
South Korea's divide over allowing Google MapsTalking Points The country is one of few modern democracies where the app doesn't work
-
'The Office' gets a spinoff and the Guinness family gets the 'Peaky Blinders' treatment in September TVthe week recommends This month's new television releases include 'The Paper,' 'Task' and 'House of Guinness'
-
Hostile architecture is 'hostile — to everybody'Instant Opinion Opinion, comment and editorials of the day
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting
-
US to take 15% cut of AI chip sales to ChinaSpeed Read Nvidia and AMD will pay the Trump administration 15% of their revenue from selling artificial intelligence chips to China
-
NFL gets ESPN stake in deal with DisneySpeed Read The deal gives the NFL a 10% stake in Disney's ESPN sports empire and gives ESPN ownership of NFL Network
-
Samsung to make Tesla chips in $16.5B dealSpeed Read Tesla has signed a deal to get its next-generation chips from Samsung
-
FCC greenlights $8B Paramount-Skydance mergerSpeed Read The Federal Communications Commission will allow Paramount to merge with the Hollywood studio Skydance
-
Tesla reports plummeting profitsSpeed Read The company may soon face more problems with the expiration of federal electric vehicle tax credits
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
