AP, Beijing :
Chinese consumers are spending billions of dollars shopping online for anything from diapers to diamonds on “Singles Day,” a day of promotions that has grown into the world’s biggest e-commerce event.
China’s biggest e-commerce giant, Alibaba Group, said sales by the thousands of retailers on its platforms had exceeded 130 billion yuan ($20 billion) by early evening Saturday in a count that started at midnight Friday. Last year, sales on Alibaba’s platforms totaled over 120.7 billion yuan, a record for the company.
By comparison, American shoppers last year spent more than $5 billion shopping online on Thanksgiving Day and Black Friday, according to Adobe, which tracks such data. Shoppers also spent $3.39 billion on Cyber Monday last year, the largest single online shopping day in the U.S., Adobe said.
Chinese consumers are spending billions of dollars shopping online for anything from diapers to diamonds on “Singles Day,” a day of promotions that has grown into the world’s biggest e-commerce event.
China’s biggest e-commerce giant, Alibaba Group, said sales by the thousands of retailers on its platforms had exceeded 130 billion yuan ($20 billion) by early evening Saturday in a count that started at midnight Friday. Last year, sales on Alibaba’s platforms totaled over 120.7 billion yuan, a record for the company.
By comparison, American shoppers last year spent more than $5 billion shopping online on Thanksgiving Day and Black Friday, according to Adobe, which tracks such data. Shoppers also spent $3.39 billion on Cyber Monday last year, the largest single online shopping day in the U.S., Adobe said.
