Alibaba's profits for "Singles' Day," the Chinese e-commerce giant and major rival of Amazon, broke the $8 billion "barrier.
This is an institution that Alibaba established in 2009, when it secured the date of November 11 to offer big discounts to consumers, both in the Chinese and global markets, something similar to "Cyber Monday" and "Black Friday" that have been established in the US.
“You see the unleashing of the consumer power of the Chinese people,” said Joe Sai, Alibaba’s vice president. “We are truly witnessing history here, because we are seeing the Chinese economy shift away from the public sector,” he added.
Source: kathimerini.gr
📧
Subscribe to the SecNews Newsletter
