For China's e-retailers, 'Singles' Day' is the new Christmas (via Reuters TV)
Chinese e-commerce giant Alibaba has created the world's biggest online shopping phenomenon out of a day that started off as a celebration for the unattached. Jane Lanhee Lee reports.
More news via Bloomberg:
Alibaba Breaks Sales Record Amid China Singles-Day Discounts
Alibaba Group Holding Ltd. said transactions on its websites yesterday topped 35 billion yuan ($5.75 billion), surpassing last year’s single-day sales of 19.1 billion yuan as discounts fueled demand on China’s biggest online shopping day.