China's E-Commerce giant Alibaba breaks on-line sales record on China's Singles Day

It was bonanza day for China's E-commerce giant Alibaba on Singles Day when it broke its own record of on-line sales.

BBC reports that by the close of trade, the site had seen sales worth 91.2bn yuan ($14.3bn; £9.4bn), a 60% increase from last year. In comparison, sales on Cyber Monday, which is the biggest online shopping day in the US, hit $1.35bn, according to data analytics firm ComScore.

Celebrated on 11 Novemebr each year, Singles Day has grown tremendously since Alibaba began promoting it as a shopping day in 2009, and now includes many retailers such as rivals JD.com that stage sales promotions.

Read more at BBC Business

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Posted in: Business, China, Day, News, Singles Day