Enthusiasm for online shopping in China was vibrant once again during the Singles Day shopping extravaganza, which falls on Nov. 11 each year, as merchants and e-commerce platforms accelerated efforts to launch more tailor-made merchandise and use livestreaming product promotions.
The 24-hour shopping frenzy, which is marking its 11th year as a recognized consumer phenomenon in the country, has become a significant engine of economic growth thanks to the increasing spending power of middle- and high-income shoppers, said industry insiders.
It took just 96 seconds for Alibaba Group, which initiated the shopping carnival in 2009, to net…
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