Daniel Zhang, CEO of Alibaba Group, making a speech in Shanghai after the 2018 Singles’ Day Shopping Festival ended at midnight on Sunday, setting a record of 213.5 billion yuan. Photo: Simon Song
Alibaba sets record US$30.8 billion for Singles’ Day sales, underscoring resilience in consumer spending
- Sales tally surpassed last year’s record at 3.49pm on Sunday
- Singles’ Day sales performance increasingly seen as a barometer for China retail health and consumer confidence
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Singles' Day (11.11)
Daniel Zhang, CEO of Alibaba Group, making a speech in Shanghai after the 2018 Singles’ Day Shopping Festival ended at midnight on Sunday, setting a record of 213.5 billion yuan. Photo: Simon Song