Alibaba rakes in $4.9bn by midday with 'Chinese Singles Day' promotion – should UK retailers be joining the action?
Chinese Singles Day – a bit of a local twist on Valentine’s Day – dawned today (11 November), with Alibaba among the retailers cashing in on the huge commercial benefits surrounding the celebrations.
The e-commerce giant hoovered up $2bn (£1.26bn) in sales within a single hour of its annual ‘Singles Day’ promotion – a figure which rose to $4.9bn (£3.09) by midday.
Although Chinese Singles Day is yet to be replicated in the UK, with the likes of House of Fraser now under Chinese ownership, The Drum spoke to retail analysts and experts to ask what the future potential might Read full story ›
Source: The Drum
