Alibaba’s Singles’ Day sets online shopping record with $31B in sales
China's biggest online shopping day easily dwarfs Black Friday and Cyber Monday.
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Alibaba's Singles' Day shopping bonanza has set another record for online sales.
The annual 24-hour online shopping spree notched 213.5 billion yuan ($30.7 billion) in sales, the Chinese e-commerce giant said Sunday, surpassing last year's record of $25.3 billion. Products from Xiaomi, Apple and Dyson topped early sales.
Called the 11/11 Global Shopping Festival, otherwise known as Singles' Day in China because of its collection of ones, it's perhaps the world's biggest online shopping extravaganza. Asia's version of Black Friday was created in 2009 by Alibaba CEO Daniel Zhang to draw buyers to Alibaba's shopping platform, Tmall.