Alibaba - Logistics Institute of Singapore - Logistics Institute of Singapore (LIS)

Alibaba Singles’ Day tops $30 billion, but growth rate plunges

Chinese e-commerce giant Alibaba Group cashed a record $30.7 billion in sales Sunday during Singles’ Day, its annual 24-hour online retail frenzy, but the event’s annual growth dropped to its slowest rate ever. Shoppers in China and across the world snapped up hot items, including iPhones, furniture and milk powder starting predawn, with Alibaba recording