An estimated half-billion shoppers from China to Russia and Argentina swarmed site. FMTNews Alibaba
A big screen shows the online sales for e-commerce giant Alibaba surpassed RMB 100 billion.
The company again hosted a televised entertainment revue in Shanghai to run alongside the bargain-hunting, this time enlisting Taylor Swift and Asian pop icon G.E.M. to pump up sales. On Sunday, Alvin Liu, a Tmall general manager, said Alibaba doesn’t expect any impact on its cross-border import business from an ongoing trade spat.
Singles’ Day emerged as a uniquely Chinese antidote to the sentimentality surrounding Valentine’s Day. This time, purchases grew 26% from the year earlier. More merchandise is sold online over the 24-hour period than during the five-day US holiday buying spree that begins on Thanksgiving and ends on Cyber Monday.Alibaba saw 100 million new users join the shopping festival this year, according to Jiang Fan, president of the company’s e-commerce marketplaces Taobao and Tmall.“We hope this event can help more factories and farmers.
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