Chinese consumers spend billions in Single’s Day extravaganza
A screen shows the gross merchandise volume after 12 minutes 49 seconds of Singles Day sales, as it reaches more than US$7.14 billion. – AFP pic, November 11, 2019.
E-COMMERCE giant Alibaba today filled billions of dollars in orders during China’s annual Singles Day shopping frenzy, the world’s biggest 24-hour shopping event. Total gross merchandise volume settled through the company’s payments platform Alipay hit US$14.3 billion within 63 minutes and 59 seconds, according to Alibaba – 43 minutes ahead of last year’s pace.
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