Alibaba racks up $30.8bn for Singles’ Day

More than 180,000 brands participated in the shopping event through Alibaba

China’s Alibaba reported record gross merchandise value (gmv) for this year’s Singles’ Day shopping festival of RMB213.5bn ($30.8bn). This figure was 27% higher than last year, although the growth rate was lower than the 39% reported in 2017.

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