China's Singles' Day, a pop culture holiday that celebrates the bachelor life, has set another record to further cement its reputation as the biggest global shopping day of the year, The Wall Street Journal reports.
China's Internet giant Alibaba has indicated that sales on its shopping site topped $3.1 billion during the first half of the day's of sales. This figure was larger than last year's record for the entire holiday.
“Today China’s internet penetration rate is still not as high as developed countries, it’s only at 45 percent, so we can ensure this kind of growth for a while [every year on Nov. 11],” Jeff Zhang, head of the online marketplace Tmall, told the Journal.
For more on the history of Singles' Day, as well as its eCommerce performance, click here.
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