Singles’ Day delivers e-commerce boost to Chinese retail giants Alibaba, JD.com

People ride on a scooter past a JD.com ad promoting Singles Day shopping festival, in Beijing, China.
E-commerce giants Alibaba and JD.com posted robust growth during China’s Singles’ Day. (Source: Reuters/Tingshu Wang)
Despite low consumer sentiment and discount fatigue, Chinese spending during the country’s biggest shopping event doesn’t seem to be all doom and gloom. Initially conceived as a celebration of singlehood to counterbalance Valentine’s Day, Double 11 has grown into a weeks-long online shopping festival that this year began mid-October, making it the longest Singles’ Day sales period ever. Surpassing expectations The country’s e-commerce giant Alibaba Group has reported a “histo

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