Chinese e-shoppers spend billions on Singles Day

The Associated Press BEIJING — In a bright spot for China’s cooling economy, online shoppers spent billions of dollars Friday on “Singles Day,” a quirky holiday that has grown into the world’s busiest day for e-commerce. The country’s biggest e-commerce brand, Alibaba Group, said sales by the thousands of retailers on its platforms passed 91.2 billion yuan ($13.4 billion) in the first 15 hours of the event. That is four times the $3 billion research firm comScore says Americans spent in total last year on Cyber Monday, the country’s biggest online shopping day. Rivals including JD.com, VIP.com and Suning offered deep discounts on clothing, smartphones, travel packages and other goods to attract shoppers. JD.com, the country’s biggest online direct retailer and Alibaba’s top rival, said it tested delivery by drone…


Link to Full Article: Chinese e-shoppers spend billions on Singles Day

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