Singles' Day discounts prompt online shoppers to spend 30 billion yuan
Taobao and Tmall, the two main online retailing platforms of Alibaba Group, smashed last year's combined record of 19.1 billion yuan (HK$24.17 billion) sales for the whole day in the first 13 hours yesterday. By 9.20pm, the total exceeded 30 billion yuan, the company said on its weibo account.
The mainland's online shoppers set another record yesterday as major retailing websites offered massive discounts on Singles' Day.
The online shopping spree comes as the government is eager to find new ways to promote domestic consumption as its new economic driver.
November 11, widely referred to as "double eleven" in China, is a day attributed to and celebrated by single people due to the shape of the Arabic numerals "11/11".
The Tmall site began marketing the day as its biggest sales event in 2009.
Rivals then jumped on board, and the day has since turned from an opportunity to seek out a partner - or celebrate being single - into a booming online shopping bonanza.