Alibaba, JD smash Singles Day record with $139 billion of sales and focus on 'social responsibility'

strength of the Chinese consumerWhile Singles Day, also called Double 11, used to just be a 24-hour flash sale type of affair, it has transformed into a multi-day extravaganza, ending at midnight on Nov. 11. JD began sales in late October while Alibaba started at the beginning of November. This extended period has helped the companies continue to grow sales.

Signage for Alibaba Group Holding Ltd. displayed at the company's headquarters in Hangzhou, China, on Wednesday, Nov. 10, 2021. Alibaba's annual 11.

GMV and transaction volume do not translate into direct revenue for JD and Alibaba. They also do not account for returned items. The figures relate to the volume of transactions across both their platforms.'Social responsibility'

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China's Singles' Day shopping extravaganza loses lusterBEIJING (AP) — China’s Singles’ Day, the world’s largest online shopping festival which falls on Nov. 11 every year, is losing its shine, with less marketing hype and a crackdown on the technology industry.
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