China’s Alibaba, JD report booming Singles Day sales

  • “Chinese e-commerce giants Alibaba and JD.com reported nearly $60 billion in sales Monday part way through Singles Day
  • Alibaba said sales by merchants on its platforms totaled 221.6 billion yuan ($31.7 billion) by 6 p.m., passing last year’s total of $30.8 billion.
  • Online sales of goods rose 16.8% over a year earlier in the first nine months of 2019 to 5.8 trillion yuan ($825 billion)
  • E-commerce made up 19.5% of Chinese consumer spending, compared with about 11% of spending for American consumers.”

https://www.google.com/amp/www.chicagotribune.com/business/sns-bc-as–china-singles-day-20191111-story.html%3foutputType=amp

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