Amid pandemic, Chinese consumers spend US$74.1 billion during Singles’ Day online sales festival
- 4 years ago
China’s e-commerce platform Alibaba racked up 498.2 billion yuan (US$74.1 billion) in sales between November 1 and 11, 2020. The online shopping festival, which falls on November 11 every year, is the world’s largest retail event of its kind. Shoppers scoop up everything from consumer electronics to luxury items and even cars during Singles’ Day, which was being closely watched this year as a barometer of consumer sentiment amid the Covid-19 pandemic. Alibaba Group Holding is the parent…