Alibaba Sales Soar During 11/11 Season

RAPAPORT... The pandemic didn't stop Alibaba from recording sales growth this Singles' Day, with the Chinese e-commerce giant enjoying a sharp rise in activity on its platforms during the week and a half running up to the shopping bonanza.Gross merchandise volume rose 26% to CNY 498.2 billion ($74.1 billion) during an 11-day campaign between November 1 and 11 compared with the same period in 2019, the company said Thursday. Its digital platforms handled 583,000 orders per second during the peak of activity.The annual celebration of singlehood, also known as 11/11, has provided Alibaba with higher sales every year since the company adopted the day as an e-commerce bonanza in 2009. Livestreaming was a key feature of online selling this year, the retailer said."Over the past 12 years, innovation has been at the heart of 11/11, and along the way it became a global consumer festival," commented Jiang Fan, president of Taobao and Tmall, two of Alibaba's sites. "We will continue to focus on developing our digital infrastructure in the service of empowering merchants of all sizes to find a path to success in the digital economy."Image: Man shopping on Alibaba. (Shutterstock)