Alibaba generated $US5 billion in sales in the first 90 minutes of Singles’ Day, China’s biggest online shopping day of the year.
That’s how much Americans spent online last year on Black Friday and Cyber Monday combined.
Sales on Singles’ Day last year for Alibaba totaled $US9.3 billion, up from $US5.8 billion the previous year.
Singles’ Day is anti-Valentine’s Day holiday that emerged in China two decades ago as a time for bachelors and bachelorettes to celebrate the single life.
Since then, Alibaba — China’s largest e-commerce company — has turned the occasion into the biggest 24-hour cyberspending blitz in the world by offering deep discounts on items as varied as cars and clothes.
The holiday is held on November 11 every year.
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