This year's edition of Singles Day in China once again is set to become major success for Alibaba and other local online retailers. The buying frenzy is still seen by many as an anti-Valentine's Day event.
Shoppers spent over $10 billion (9.3 billion euros) on Alibaba's platforms during China's Singles Day event on Wednesday, breaking its own sales record of last year and reinforcing the e-commerce giant's status as the world's biggest online retail promotion company.
"The whole world will witness the power of Chinese consumption this November 11," Alibaba Chief Executive Officer Daniel Zhang said in a statement.
The firm saw more than 70 percent of its sales come from its mobile sites, indicating that both online shopping and smartphone use had become ingrained habits among Chinese customers.
Rivals profiting, too
Alibaba rival JD.com, for instance, reported Wednesday it had already received more than 10 million orders.
Singles Day receives official support from the government in Beijing, which is trying to transform the country's growth model into a more sustainable one driven by domestic consumption.
hg/pad (AFP, dpa)