Alibaba, the Chinese e-commerce giant, said its Singles’ Day sales surged past last year’s total just after midday Saturday, hitting a record $18 billion, pointing to a likely giant haul for the world’s biggest shopping event. “On Singles’ Day, shopping is a sport, it’s entertainment.”Tsai said rising disposable incomes of China’s “over 300 million middle-class consumers” was helping drive the company’s online sales - and would continue. Jack Ma, Chairman of Alibaba Group, and actor Nicole Kidman attend a show during Alibaba Group's 11.11 Singles' Day global shopping festival in Shanghai, China, November 10, 2017. He estimated Alibaba’s Singles’ Day sales growth would likely slow to around 20 percent. US singer Pharrell Williams and Hong Kong singer Karen Mok perform during Alibaba Group's 11.11 Singles' Day global shopping festival in Shanghai, China, November 10, 2017.

Source: Hindustan Times November 11, 2017 03:56 UTC