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Alibaba says Singles’ Day record sales show resilience in economy as firm seeks to turn future editions into ‘fun-filled’ event

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[unable to retrieve full-text content]Alibaba Group Holding, which operates the biggest e-commerce platform, said the latest Singles’ Day shopping gala has produced “satisfactory” results, pointing to a resilient economy amid a rebound in consumption, chairman and chief executive Daniel Zhang Yong said.Purchases by mainland consumers during the extended Singles’ Day festival – an 11-day event from November 1 to 11 – reached 498.2 billion yuan (US.8 billion), breaking last year’s one-day record by 26 per cent. Last year, the one…

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[unable to retrieve full-text content]
Alibaba Group Holding, which operates the biggest e-commerce platform, said the latest Singles’ Day shopping gala has produced “satisfactory” results, pointing to a resilient economy amid a rebound in consumption, chairman and chief executive Daniel Zhang Yong said.Purchases by mainland consumers during the extended Singles’ Day festival – an 11-day event from November 1 to 11 – reached 498.2 billion yuan (US$75.8 billion), breaking last year’s one-day record by 26 per cent. Last year, the one…

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