China’s biggest online shopping day – the now-famous “Singles Day” (11/11) that has become the Chinese equivalent of “Black Friday” in the United States – began setting records right away, with Alibaba selling more than US$1 billion in the first five minutes and $7.2 billion in the first two hours of shopping. The online retail giant walked away with a total of $17.8 billion at the close of the 24-hour selling period – but it still wasn’t enough.
At the end of the day, Alibaba was unable to meet analysts’ high expectations for growth. Last year, the marketing gimmick increased sales by 60 p…
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Source: aircargoworld