China's, Alibaba rival, reports $19.1 billion in shopping event sales

From Reuters - November 12, 2017

BEIJING, Nov 12 (Reuters) -, Chinas e-commerce behemoth, said on Sunday that sales for Singles Day - and its run-up - reached 127.1 billion yuan ($19.14 billion), up 50 percent from a year ago.

Sales included 11 days of transactions, JD said in a statement, unlike its rival Alibaba, which reported on Saturday that its one-day sales reached 168.3 billion yuan ($25.35 billion), up 39 percent from last year.

Singles Day, an annual 24-hour buying frenzy that takes place in China on Nov. 11, has emerged as the worlds biggest shopping event. It exceeds the combined sales for Black Friday and Cyber Monday in the United States.


Continue reading at Reuters »