China’s Alibaba breaks Singles Day record as sales surge

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E-commerce giant Alibaba has broken its own record for sales on China’s Singles Day, the world’s biggest online shopping event, the BBC reports.

The firm said sales surpassed the record amount of $9.3bn (£6.1bn) made last year in just over half the time.

Singles Day, also known as Double Eleven because it is held on 11 November, has become a major annual event for Chinese retailers.

Alibaba said more than $1bn was spent within eight minutes of midnight.

Within the first hour, it had made $3.9bn (£ in sales, almost double the amount spent in the same time period of the event 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.

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