biggest online shopping day of the yearended Monday with a record $US5.7 billion in sales for Alibaba Group, the country’s top e-retailer.
Alibaba’s two shopping platforms, Tmall and Taobao Marketplace, were expecting sales of at least $US4.9 billion during the 24-hour online shopping blitz, which is held on Nov. 11 every year. Last year, sales for Alibaba totaled $US3.1 billion.
By comparison, U.S. consumers spent $US1.5 billion on “Cyber Monday” last year.
The shopping day coincides with a Chinese holiday called “Singles’ Day,” which
Business Insider Emails & Alerts
Site highlights each day to your inbox.