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Alibaba's Singles Day sales surge sixty percent

Wednesday, November 11, 2015 - 01:17

Alibaba's sales jumped to $14 billion on this year's Singles Day shopping festival, with 68 percent coming from mobile devices. Bobbi Rebell reports

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Alley about lifting those days sales surged 60% from a year ago to more than fourteen billion dollars. 60% was through orders from mobile devices. State is devious shopping event in the world. Larger than Black Friday and Cyber Monday in the United States combined. The freest retailers adopt the shopping holiday says Forrester Research has retail analyst at her Rica. Multiple group a lot of merchants are your plans or at Thanksgiving weekend and it's hard to pull out seems stops. Just a couple of weeks but or her. And because it's it's an just wish you rate that merchandise and a deep that they had deeper into counts in and be honest you're out. Another big sale they add another year. November 11 which numerically is 1111. Was branded as single state six years ago by Alibaba. It was a regionally in mock celebration for people not in relationships and features deep discounts and promotions aimed at driving online sales. It it it's closely watched as a gauge of Chinese consumption as economic growth slows. Jack by the company's founder and executive chairman said going forward the event annual growth rate should be over 50%.

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Alibaba's Singles Day sales surge sixty percent

Wednesday, November 11, 2015 - 01:17