Alibaba Singles Day sales frenzy surpasses records

www.bbc.com

Chinese ecommerce growth can best be described as ferocious, exemplified by Alibaba's Singles Day (11/11). Started 10 years ago, last year the site did $25.3bn in sales (all processed via Alipay mind you). This year, Singles Day blew through that number with hours left to spare! With total GMV expected to be over $30bn (for reference, Amazon Prime Day did $4.2bn in sales in 36 hours!), China is teaching the rest of the world about how ecommerce actually works.

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