Singles Day in China

Singles Day Once Again Sets Records, But Growth Is Slowing

| Daniela Forte

Alibaba set a new record on the 10th annual Singles Day by reaching more than $30.8 billion or 213.5 billion yuan in gross merchandise value (GMV) in 24 hours on Sunday. However growth is slowing and some observers question the GMV metric, while some Chinese consumers are less than enthusiastic.

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Alibaba Reports Singles Day Sales Up 62% to $9.3B

| Mike O'Brien

While Chinese ecommerce giant Alibaba reported that Singles Day 2014 – 11.11 – the world’s largest shopping day, brought in more than $9.3 billion in sales, up 62% from 2013, the global phenomenon has yet to make a significant impact in the U.S.