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Chinese spend billions shopping online on 'Singles Day'

November 12, 2017 2:42 AM
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Chinese spend billions shopping online on 'Singles Day'

Chinese consumers have spent 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 largest e-commerce giant, Alibaba Group, said Sunday sales by the thousands of retailers on its platforms for the 24-hour period on Saturday amounted to 168.3 billion yuan ($25.3 billion), setting a new record for the company. It was 39 percent more than sales clocked last year on Alibaba's ...

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