Ali Baba breaks sales record on Singles’ Day
The leading e-commerce Chinese company Ali Baba has transformed Singles’ Day into the world’s biggest shopping bonanza–a significant breakthrough since the annual event’s debut last 2009. Ali Baba’s reported sales for November 11th totaled to 121 billion yuan ($18 billion), an ample difference of 32 percent from the preceding year’s sales of $14.3 billion. The Chinese company detailed 82 percent of purchases were made on smartphones. But some were skeptical about the accuracy of these figures amid claims of excessive sales data provided by online retailers. Alleged online merchants trading imitation products is just another hitch the industry is facing. Notwithstanding these reports, analysts said the online shopping will…
Read more



