E-commerce giant Alibaba said Thursday that Chinese and international consumers spent more than USD14 billion in the world’s biggest online shopping day, as it sought to soothe worries over China’s slowing economy.
The November 11 "Singles Day", which fell on Wednesday, has evolved into the globe’s biggest online shopping festival since Alibaba began using the date in 2009 to promote sales through its platforms.
The USD14.3 billion worth of merchandise volume this year smashed through last year’s tally of USD9.3 billion, according to figures from Alibaba.
(Source: The Malaysian Insider)