Alibaba Tops Singles’ Day Record as Chinese Consumers Rally
- Jack Ma Enlists Scarlett Johansson to boost shopping at event
- 24-hour shopathon kicks off with fanfare amid China slowdown
Alibaba's Evans: Very Unlikely We'll Keep Growing at 60%
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Alibaba Group Holding Ltd. broke its Singles’ Day sales record with room to spare, offering assurances about the strength of the Chinese consumer despite the nation’s economic slowdown.
Sales on its e-commerce platform reached 102 billion yuan ($15 billion) shortly before 8 pm in China, easily topping last year’s total of 91.2 billion yuan with about four hours left to run. Dwarfing both America’s Cyber Monday and Black Friday, the 24-hour online promotion is closely watched for clues on the health of the economy and its largest online retailer.