China's Alibaba breaks Singles Day sales record
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.
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