‘Double 11’ Sales Day Is a Smash Hit
China’s e-commerce giants smashed their “Double 11” record this year once again amid the country’s shopping frenzy, with Alibaba Group Holding Ltd. leading in sales and its rival JD.com catching up.
Sales of merchandise sold by Alibaba affiliated platforms hit $25.3 billion in 24 hours, a 40% surge from a year ago. JD.com, Alibaba’s major rival and the country’s second-largest e-commerce firm, also reported an impressive $19.1 billion yuan daily sales in this year’s festival.
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