Spending climbs by 39% on this year's Singles Day
Bargain hunters splurged by spending a record 168.2 billion yuan($25.3 billion) during this year's Singles Day on Saturday, the world's largestdaylong discount gala, as e-commerce giant Alibaba Group took the onlineshopping spree to brick-and-mortar stores and beyond the nation's borders,banking on China's technological prowess.
Spending surged 39.3 percent during 2017's sale - the ninthiteration of the event - as consumers from 225 countries and regions scooped upgoods that included apparel, mobile phones and motor vehicles from 140,000brands that offered promotions during the annual jamboree.
The tech behemoth broke last year's 120.7 billion yuan totalshortly after 1 pm, and gained fresh steam as overseas shoppers joined the frayin the afternoon, seeking good deals from China.
Saleson Alibaba's platforms broke last year's total with almost 11 hours of theSingles Day shopping gala to spare.
Grossmerchandise volume of the day-long discount topped 120.7 billion yuan ($18.2billion) as of 1:09 pm Saturday, according to Alibaba's data. This isequivalent to the value of all transactions processed via its Tmall, Taobao andother sister sites a year ago.
Amidfanfare and celebrity razzmatazz, the ninth annual Nov 11 promotion