Source:
https://scmp.com/tech/enterprises/article/1867526/chinese-e-commerce-titan-alibaba-poised-set-another-record-double
Tech/ Enterprises

Bingo! China's Alibaba likely to conjure up another e-sales record on 'Double 11' singles day after hitting US$9.3 billion last year

Alibaba Group's president Michael Evans, executive chairman Jack Ma and CEO Daniel Zhang (front row centre, left to right) are pictured during the launch event of Alibaba's Tmall 11.11 Global Shopping Festival, at the company's headquarters in Hangzhou, Zhejiang province on Tuesday. Photo: Reuters

Undaunted by China’s slowing economy, e-commerce powerhouse Alibaba Group is expected to set a new global-high for one-day online sales on “Double 11”, the world’s biggest online shopping festival held as part of the “Singles Day” event on the Chinese mainland.

That increase is forecast to be driven by mobile transactions, as well as Alibaba’s sharpened focus on international sales and the participation of more overseas merchants.