Alibaba Singles’ Day has become the world’s biggest online sales event.

SHANGHAI:

Chinese e-commerce giant Alibaba Group Holding Inc said on Monday that sales for its annual Singles’ Day shopping blitz hit 84 billion yuan ($12 billion) within the first hour, up 22% from last year’s early haul of 69 billion yuan.

Akin to Black Friday and Cyber Monday in the United States, Singles’ Day has been promoted as a shopping fest by Alibaba Chairman and Chief Executive Daniel Zhang since 2009, growing rapidly to become the world’s biggest online sales…

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