Singles Day sales for Alibaba top $38 billion, breaking last year's record

www.cnn.com

Holy moly Singles Day. This year China's annual Singles Day online shopping bonanza has brought in a record $38 billion in sales for Alibaba. That's up over 20% from last year's $31bn and a major indicator that Chinese consumers are willing to spend, despite a somewhat slowing economy and a trade war with the US. Shoppers were even able to buy real estate at a discount on this 11th annual 11/11 celebration. Given tourists are now able to use China's payment platforms, expect these numbers to go up in the years to come as consumers worldwide will now have greater access to the shopping event of the year!

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