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Alibaba enjoys record sales for Singles Day shopping extravaganza in China
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theguardian.comThe Chinese e-commerce titan Alibaba enjoyed record sales during its Singles Day shopping extravaganza, giving a much-needed boost to the firm after a torrid year in which it became the symbol of a government crackdown that hammered the country’s tech sector.
The firm said 540.3bn yuan (£63bn) was spent as China’s army of consumers went on a splurge despite a more low-key sales campaign after pressure from the government to tone down the aggressive promotions and rampant consumerism.
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