China’s Singles Day sets new online sales record

China’s Alibaba has shown that orders on its ecommerce platforms during Singles’ Day hit a record high of 498.2 billion yuan ($75.1bn). It has eclipsed Black Friday and Cyber Monday in the United States. Singles’ Day, also known as Double 11, is the world’s biggest online sales date. It was originally a novelty student event to celebrate being single but has since grown into a month-long online shopping festival that peaks with a 24-hour event on 11 November.

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