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Alibaba’s Singles’ Day sales hit $30 billion, on track for record
- Tuesday | 12th November, 2019
But sales growth for Alibaba on Singles’ Day has weakened as China’s economy slowed. Sales hit $1 billion after one minute and eight seconds and reached 158.31 billion yuan ($22.6 billion) in the first nine hours, up 25% from the same point last year, Alibaba said. Singles’ Day is known to be a stressful time for Alibaba employees with workers sleeping at the office to keep up with orders. This is the first time Alibaba’s Singles’ Day is being held since its flamboyant co-founder Jack Ma resigned as chairman in September to “start a new life”. JD.com, which started its Singles’ Day promotions on Nov. 1, said transaction volume over the 11 days through Monday afternoon reached 179.4 billion yuan.
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