Alibaba reports record $9 billion Singles' Day sales

By Adam Jourdan HANGZHOU China (Reuters) - E-commerce giant Alibaba Group Holding Ltd reported more than $9 billion in sales on China's Singles' Day on Tuesday, illustrating the buying power of the Chinese consumer and the importance of the event in the retail calendar. Real-time figures on a giant screen at Alibaba's sprawling Hangzhou campus surged past 2013's record to 57.1 billion yuan ($9.3 billion) just after midnight after Chinese and overseas shoppers snapped up heavily discounted goods online. ...

via Tech News Headlines - Yahoo News http://ift.tt/1oEN16c