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Alibaba's Singles' Day sales hit new record of $38 billion


E-commerce giant Alibaba's Singles' Day sales hit another record of $38.38 billion, even amid concerns of slowing economic growth and trade tensions with the United States.

The Alibaba Group's various shopping platforms' total GMV exceeded $10 billion in just 29:45 seconds, and broke last year's record sales figure after 16 hours 31 minutes of the Global Shopping Festival going live.

At the close of the 24-hr shopping extravaganza, the total GMV stood at RMB 268.4 billion ($38.379 billion).

According to Alibaba, the year-on-year GMV growth registered a 25.7 percent rise, while the ...


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