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November 11, 2016 06:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/drwso0Y_eDI/alibaba-breaks-records-sells-177-billion-on-singles-day
Alibaba Breaks Records, Sells $17.7 Billion on Singles' Day
Alibaba broke its Singles' Day sales record with room to spare, offering assurances about the strength of the Chinese consumer despite the nation's economic slowdown. From a report on Tech in Asia:As the clock struck midnight, Alibaba announced its final total for 2016's Singles Day sales frenzy: US$17.7 billion. Alibaba has beaten its own sales totals each year since the sales began, and this year was no different. It passed last year's US$14.3 billion high-water mark early in the evening, a sign that this year's growth wasn't going to be quite as explosive as previous years' (in 2015, Alibaba hit the previous year's mark at midday). In the end that proved true, as Alibaba fell just short of the US$20 billion target some had been expecting it to surpass. Still, nearly US$18 billion is nothing to sneeze at.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/drwso0Y_eDI/alibaba-breaks-records-sells-177-billion-on-singles-day
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