Something incredible is happening in China right now. Online shoppers are fighting for the best deals with their quick-clicking reflex fingers. The Singles Day sale held every year on the 11th of November or 11.11, is a tradition that shoppers wait all year for to get steep discounts. This year, there are more than six million products from over 30,000 brands and 40,000 merchants on sale. Already in the first 90 minutes of the sale, Alibaba Group (NYSE:BABA) has generated a whopping $5 billion  in gross merchandise value (GMV), just through Alipay alone on Alibaba’s China and international retail marketplaces. 
Daniel Zhang, chief executive officer of Alibaba Group said in his opening remarks for the 11.11 Global Shopping Festival Countdown Gala, “This year, Alibaba Group has transformed 11.11 into an unprecedented mobile shopping experience. Over the course of the 24-hour shopping marathon, consumers will have a new surprise every hour that has been especially tailored for mobile users. The whole world will witness the power of Chinese consumption this November 11.”

from Forbes – Tech http://ift.tt/1MJsLpG
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