Alibaba has set a new high water mark for a single day of sales. The 11.11 Global Shopping Festival, held on Singles’ Day, smashed previous records this year with sales reaching RMB 213.5 billion (USD $30.8 billion) an increase of 27% over 2017 and amounting to more than a billion orders.
Singles’ Day began as a celebration of pride in being single, held on the eleventh of November because the date consists of a series of ones: 11/11. It did not take long for retailers to recognize that the tradition, which began in the 1990s, was an opportunity to…
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