Singles Day festival wraps up with e-commerce giants reporting sales growth
E-commerce China’s largest e-commerce player Alibaba Group said it recorded year-on-year growth over this year’s Singles Day sales period that ended at midnight on Saturday, while rival JD.com reported sales volumes at a record high. Data provider Syntun, meanwhile, estimated cumulative gross merchandising volume (GMV) sales across major e-commerce platforms rose 2.08 per cent to US$156.40 billion compared with growth of 2.9 per cent last year. Originally a 24-hour online shopping event held on November 11 each year in China,…