Interview with Tomas Casas Klett | Business| Economy and finance news from a German perspective | DW | 11.11.2016
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Business

Interview with Tomas Casas Klett

Chinese consumers spent a fortune on Friday as the annual "Singles Day" online shopping phenomenon swept the country.

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Alibaba Group says its platforms registered sales equivalent to over nine billion euros in the first ten hours of the extravaganza, outpacing America's Cyber Monday by a longshot. Shoppers are attracted by special deals and discounts during Single's Day which fits in perfectly with the governments plan to boost cosumer demand. E-commerce sales are booming in China.