Alibaba Singles Day Smashing Success

Alibaba’s singles day a smashing success, up 5 billion from last year.

Alibaba Group Holding Ltd. logged a record 91.2 billion yuan ($14.3 billion) in sales on Singles’ Day, turning a sweethearts’ holiday dreamed up two decades ago into a major online shopping event.  Transactions had passed last year’s record of $9.3 billion before midday in China, according to the company. The top-selling items by retailers using Alibaba’s platform included baby-related and nutritional products, Nike sneakers and Levi’s jeans, the company said.  Noteworthy: 69% of transaction came fromm mobile phones.

Big Sales on Mobile Phones