Hong Kong (CNN Business) Alibaba's online retail blitz known as Singles Day has pulled in $24 billion so far, China's biggest e-commerce company said on Monday. Alibaba users also pre-ordered 100 million yuan ($14 million) worth ofiPhone 11s, the company said. This year's Singles Day comes as Alibaba's growth is under pressure from China's slowing economy and the trade war with the United States. A recent survey from research firm Oliver Wyman found that buyers are expecting to spend nearly 10% more on Singles Day this year compared to 2018. Last year, Alibaba reported a 27% uptick in Singles Day revenue.

Source: CNN November 11, 2019 03:10 UTC